The MrTopStep Imbalance Meter proved its worth yet again today. As Danny Riley talked about in the Closing Print video, the S&P 500 rallied to a new high of 1694. Then there was a drop, the profit-taking one would expect after a new high. But after such a sharp run up of 13 handles, few would have predicted a drop of 13 handles right afterwards.
The MIM is currently in its final beta stage and available to our traders’ chat room members, including those on the 14-day trial. Email firstname.lastname@example.org for more information, or sign up for the trial.
We want to remind you that the MIM is much more than an indicator and should be used differently than an indicator. It represents a whole new area of data science and algorithm design. You can’t just buy on a green light and sell on a red light, not that you ever should. But as we saw today, knowledge can be power.