Over all, spytomorrow.com past the test.
At the beginning of the week, I mentioned to members that this week would be tough with all the earnings. The market could change mood quickly.
Unfortunately, today’s (Friday), prediction is an example of everything that can go wrong. Yesterday, I had to quickly turn around to go back to my office (I almost forgot to post), at the exact time I take my spy tomorrow reading, the power went out. I quickly turned to my hotspot and it also didn’t work. With about three minutes left in the trading day, I was on and I made a quick call based on a weak up signal.
I might have been better off making no call.
I told members the day before that one of the data sets was a little off from normal and I took two readings around the data. For Thursday the readings were about the same. One a little stronger than the other. Because the market opened and closed at about the same spot on Thursday the data points were again about the same for Friday. Except, one was a weak up and the other was a solid all red down. Which is today’s result.
I had a sick feeling in my stomach last night. I’ve reviewed my call over and over. Although spy tomorrow was wrong, I believe I made the right call by sticking with my rules of reading the data.
Spy tomorrow is working. It works better as I create more support and guard rails. I will continue to improve the process.
I did a backtest experiment to see if weekly reading are possible. This requires the reading of the N waves (Such as the Basic, Grand, and Original waves). The C waves are strong for the next morning pressure prediction only.
I have a limited amount of data, however, the readings were correct 6 out of 6 weeks available. This is promising, however, not enough data to have full confidence. I will begin to offer weekly pressure readings for members (with caution) starting the first week in May.
Spytomorrow.com is a tool. It’s a good high probability tool, especially in combination with your other signals and trading approaches. I feel it’s highly valuable for traders. My job is to make it better month after month. Although I can’t stop reversals based on news, I can work to limit human error, the need to interoperate, or have to choose an option like I did last night.
I had a positive month using the signals from spytomorrow.com, I look forward to opening this project up to more members in May.
Let me know what you think and would like to see from this tool.