Monday, September 13, 2021, 1130ET
Market Bias for Issue #351
Our current Market Bias with Timer Digest is LONG SPX since AUG 3 at 4423
Our previous Market Bias was SHORT SPX since JUL 29 at 4419
Here are the trade parameters for this week:
SPX Secondary Profit Target for last 20% of our position = 4550
SPX Primary Profit Target for first 80% of our position = 4510
SPX Money Management STOP for last 20% of our position = 4485
SPX Current Price is = 4465
SPX Money Management STOP for 100% of our position = 4420
||Friday OCT 8
||Friday OCT 8
|You need to execute both legs and hold it as a Call-Spread.
Once the Primary Profit Target has been reached, traders are advised to close 80% of their position in order to lock in profits. The remaining balance can be carried over with a BreakEven STOP, based on the SPX level at the time of entry, in order to make the trade a zero-risk trade with the final position running to reach the Secondary Profit Target.
Once either Secondary Profit or Money Management (BreakEven STOP after the 80% peel-off) is hit, our Option/ETF trade for that week is over. Go to Cash and wait for the next PMT Issue.
When we change our Market Bias with Timer Digest, You need to go FLAT asap. With PMT Pro, that is before the Close that day and with the basic PMT, at the open of the next day. The following trading day, we will issue new SPX targets and a new SPY options trade, as long as our new market bias with Timer Digest is NOT flat.