SPDR S&P 500 (SPY)

[learningboutinv]

No, didn't take it since the trend has been down and I had a feeling the 5min 50dma would be the rejection point again as was twice yesterday. I am waiting til 11-11:30AM to see what happens, if we break out of the high of day or low of day. But I guess I am trying to really figure out if the pros decides to salvage anything left of this Month before they close the books on Monday or if they let things go which is down with the trend.

I've noticed one thing as Woodfish has mentioned, trade NERS with the current trend. So if the trend is down, more than likely any buying opportunity will be a false signal and it is better to open shorts than longs.

I think with NERS in order to really spot a trend change you need to go out to the 30/60min charts and look for the confirmation in the signals there. I need to backtest and look at NERS more, it definitely works for a lot of people, but I need to figure out a way to mitigate against false signals/whipsaws so I don't get stopped out so much. Will definitely look into it more this weekend.