i haven's seen the post - so i cant say one way or the other. If you dont mind a brain dump, here goes. The weekly spy chart RSI2 is reading 3ish, and the last time the weekly charts were at this level was 3/18(spy closed at 125ish). It then went on a tear to 137 over the next few weeks. 4/29 was the last weekly RSI2 top, and the spy dropped from 136 to its present level. The daily tells another story - the rsi2 has been below 5 since the 6th, and the spy has declined from 130 to today's low of 127. Looking at the 30 minute charts, there were rsi2 readings less than 10 on the 6th, 7th,8,th and again today, and in each day the spy ranged at least 100 tics. If you are looking to scalp, then there were certainly opportunities to profit on the buy side, but if you were holding these for multiple days (as i interpret some of his posts) - i think you would have seen some wild swings. As mentioned - i think there is some merit to this system, but i think there are more rules that need to be built around it. i think we can all agree that the rules laid out were not in line with some of the trades that he "allegedly" made on the spy, so perhaps this forum can continue with a more objective look at buy/sell scenarios, risk management profit targets etc.
That being said, here's a post that i feel relevant to our discussion...
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