Yeah, this system as basically two ways to trade -- either you do what you're doing, which many times will get you in a tad too early, but right in the turn eventually, or you wait for the pullback to the SMA as a more refined entry, but less signals.
Today though was the worst trading day of the year. There was no bounce! It just kept going down with basically any long entry never allowing you to make even a point! I had money burning a hole in my pocket and had to make a few trades and al 3 were LOSERS! But the 'system' never was allowed to perform because it never had a bounce in either direction -- it just went down.
What a sucky day. I sold my TZA calls for $3k and lost it all on these f-ing ES trades.
I know this stuff happens, but it doesn't make it any better.
Stupid me.
As for your other question, yes "Sell in May and go away" is probably going to be more true this year than most. However, the Oct cycle this year is WAY more important because it literally could be the lifetime low. With just about every professional trader/investor looking at the same wave counts, a move at or below SPX 666 could mean that all those guys will feel extremely comfortable going 'all in' this time because they will all be counting a 5th weekly wave low which basically means they don't have to fear another leg down to wipe their new longs out.
You think 200 points on the SPX the last time was big? Wait until you see this next rally this Fall/Christmas!
That is, if all things play out as they are appearing to.
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