 Hey everybody it's Hari Swaminathan from optiontiger.com so over the weekend and I was just reviewing some longer term charts it's always a good idea to review the longer term picture as well. So as you can see this is a 6 month daily chart so we had a little bit of downturn in May and then from May there was a nice upward move and if you were looking at the customer RSI if you had this indicator you could have stayed in the trade pretty much all the way through here and that would be much more of a longer term even slightly longer term than a typical swing trade would be. But the customer RSI actually helps you stay in that trade but what I'm looking at is this action in the recent past so you're looking at the about the last one month or so and you can see that we of course we had a nice downturn but what is intriguing is let me just draw a trend line here if you can see from here onwards if you say that is the top end of the channel and if you draw the bottom end of the channel there and take it all the way here. You can see that we are in a horizontal sort of range here and we are still in that range but what you can notice is there are some big moves coming in. The big move started over here right after the Fed announcement but we are seeing some very big moves and of course Friday was a major move based on President Trump's comments that all US companies should be pulling out of China and of course over the weekend the G7 is going on and so it continues to remain a news driven market with some of the rhetoric actually doubling down although President Trump showed some signs of de-escalating these trade tensions but at the end of the day we remain in a very news driven and event driven cycle you know it could be the Fed, just the Fed meeting going on in Wyoming, the Central Bankers meeting and so anything that comes out of that could impact the markets anything related to the US-China talks could impact the markets so this is the kind of environment we are in and it's actually ideal for day trading because on a day to day basis you can take advantage of big moves either up or down and you know putting any other kind of trade in this kind of environment is a little dicey so even in our swing trading program we are taking very cautious steps here because this is the kind of market environment we are in so going forward of course there could be some good news on the US-China front there could be some bad news the next day you know it's just been going on for a long time and now it seems like it's happening much more regularly the rhetoric is getting escalated and you know and of course it all remains to be seen how both parties who blinks first basically it's a who blinks first game that's going on but this is not good for the markets but it's excellent for day trading so if you've seen the SPX ticks now you can see that over here but this is a longer term chart what I want to drill down is the 5 day 5 minute and as you can see over here on Friday this particular move from here onwards right until this point was about a 20-25 point move which would be about a 5-6 thousand dollar profit right there the rules are very simple once you get a persistent you don't want to trade in the first half an hour to 45 minutes after that once you get some persistence in terms of either red dots or green dots then you go for the trade and you don't get faded out by one dot in the other direction so until you see two dots on the 5 minute chart you want to remain in the trade so over here basically we would have taken the trade right here at 2895 and you would have gotten out after you see this one so somewhere over here 2875 that's a 20 point move on the SPX and that would have resulted in about I would say about 5-6 thousand dollars in profit just on that one particular trade and then of course there was some other smaller trades as well going into the day and there was a nice trade at the end also over here so the S&P going into Monday it remains to be seen what comes out of the G7 because any announcements from there could have impacted also remains to be seen what happens at the central bankers meeting in Wyoming so all of these are playing into the markets it's really a day trading environment right now and you can take maximum advantage of that using the SPX 6 and the customer RSI if you have any questions on those please email me at info at optiontiger.com thank you the SPX 6 as well as the customer RSI are customer indicators and algos if you have any questions you can go to this bit.ly link bit.ly slash SPX Algo and you can find more information on how to get these indicators thank you