New Smart Money System Nails Selloff

A new trading system by Princely Mathew, host of The Smart Money at EWT, has begun to pay dividends, including getting the jump on Thursday's 100+ point intraday market swing.  

Introduced and tracked in recent weeks, the new ST Cycles system projects possible short-term highs and lows in the market a few days in advance.  Using various cyclic principles and technical indicators, the system identifies possible turning points in the market as well as oversold and overbought conditions on different timeframes for initiating trades.  

Early in the week, the system identfiied Thursday April 4 as a possible high. From there, once RSI hit extreme overbought at 9:45 am on Thursday, the system shorted at 5299 ES. The trade took just a 9-point drawdown before the market proceeded to selloff 100+ points in a matter of a few hours. This short trade was covered early on Friday April 5 once oversold conditions were triggered on the hourly RSI indicator.  

Prior to this trade, a March 28 high and an April 2 low were similarly forecasted and also  fulfilled by the market.