The SPY – SPDR S&P 500 ETF Trust
Triggering short – as you can see from the chart, the first 5-minute candle to be completely above or below the 5-minute levels occurs at 8:50a CST, or 20 minutes after the open. 20 minutes later, or at 9:10a CST, a close above the prior high occurred. This would trigger another alert. Then, 10 minutes after that, at 9:20a CST, the SPY closed back above the 5-minute low. This is a signal to stop out of a short SPY trade. The ‘sell stock’ no longer appears on the monitor screen
Use the detail screen on the app (select the SPY line on the monitor screen) to see additional triggers throughout the day.
The QQQ – Invesco QQQ Trust
Triggering short – Similar to the SPY, the QQQ started bullish but did not have a candle completely above the 5-minute open the first half of the day. The first candle to be completely below the 5-minute low, and set the first trigger occurred at 8:50a CST. A close above the prior low triggered 10 minutes later and then the QQQ closed above the 5-minute low at 9:10a. The ‘sell stock’ no longer appears on the monitor screen. Later in the day, at 12:45p CST, a trigger to buy calls occurred. While a close below the prior low occurred 15 minutes later at 1:00p CST, the QQQ never retraced back to the 5-minute high
The IWM – iShares Russell 2000 ETF
Triggering long – The first trigger for the IWM ETF occurs at 9:05a CST when the entire candle is above the 5-minute high. 25 minutes later a close below the prior low is triggered. Finally, the IWM reverts back below the 5-minute high at 9:55a CST and an alert is triggered and the ‘buy stock’ no longer appears on the monitor screen.