'NB #2 SPY' Generated an Entry Signal for Tuesday's Close

NB #2 SPY' Generated an Entry Signal for Tuesday's Close. The position is only held for 1 Day, so unless its Money Management Stop is hit intraday today (Wednesday), the position will be closed at 4pm.

'NB' stands for 'Narrow Bar'. In addition to Tuesday's Daily Bar in the SPY being the narrowest bar for the most recent X number of days, there are two additional price related filters. This model has a Profit Factor=3.14 (which is above the 3.0 that I strive to find and trade), average trade returns 0.7% (excluding commission and slippage) and generates 2-3 trades/year.

At the time of this posting, the position is up about 1.5%. Who knows where this will be by the end of the day, especially since today is FOMC day. But my plan is to hold it until 4pm or I get stopped out.

Disclosure: Long the ESU09.

***remember this is an illustration of what i am trading and my thinking...it is not a recommendation for you or anyone else to buy or sell this or any other security***