Testing SPX Middle Band Resistance

Testing SPX Middle Band Resistance

I have a question for my beloved readers today and I’m hoping one of you has a good answer. I’ve teamed up with an options expert friend to run a directional options portfolio based main on futures options for the last three months, and we’ve been recording the (very impressive so far) trades and results on a spreadsheet. We’d like to move this onto a professional web-based alternative that we can publish from. The setup needs to work with futures options, auto-update the options prices, and not be restricted to basic options strategies etc. Do any of you know a good way to do this? The winning reply gets three months free membership if we later launch this as a paid service, which is where this is probably heading.

Onto the equity indices: I was mentioning yesterday that the daily middle band on SPX would be an ideal target for this rally and that has been tested on both SPX and ES this morning. Some rejection there so far and it’s possible that the rally high is in, though I’m skeptical about seeing a lot of downside in what remains of today, on an open Friday, going into a three day weekend, so we’ll see. Intraday Video from theartofchart.net – Update on ES, NQ, and TF:

Here’s the daily middle band test on SPX. Possible hourly RSI 5 sell signals are brewing on both SPX and RUT and one has fixed on NDX. SPX daily chart:

Everyone have a great holiday weekend. 🙂

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