above or below the 21-day sma for SPY, XLK, XLF, XLV, XLY and XLI
for the SPY main chart body, 2.5% vs. 10 21 65-day sma's are overlays to the SPY price action
* at Monday's March 5, 2018 close all but XLI rest above their 21-day sma
( the chart above uses the 2.5% default ... my database calculates for each quarter and for each year what is the "normalized" percentage distance vs. a specific moving average for SPY, QQQ and other major US indices ... it is not a difficult math calculation )
"Moving Average Envelopes are percentage-based envelopes set above and below a moving average. The moving average, which forms the base for this indicator, can be a simple or exponential moving average. Each envelope is then set the same percentage above or below the moving average. This creates parallel bands that follow price action. With a moving average as the base, Moving Average Envelopes can be used as a trend following indicator. However, this indicator is not limited to just trend following. The envelopes can also be used to identify overbought and oversold levels when the trend is relatively flat."
Brad Sullivan of Broken Dice Research co-conducts the March 6, 2018 webinar - he rarely speaks in a setting available to the public
you will note the options strategy that is hosted for potential clients is being touted in this webinar at 50% annual return, and Brad makes a clear statement that is the long-term expected goal, while not all individual trades are winners
I have studied Brad's methods as available to me personally since 2001 or so, FYI