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The S&P 500 hit a new all-time high today. We have the Federal Reserve to thank for the latest bout of market strength, as traders cheered the possibility of an interest rate cut if trade tensions continue to weigh on the economy.

Daily Profit Machine traders had reason of their own to cheer. Members had the opportunity to cash in their 42nd winning trade of the day in a row.

But it’s actually Wednesday’s trade that I think might be of more interest to you — because we saw another great example of what I call the “money cross.”

And for those who got into my Trade of the Day, the “money cross” yielded a 30% return… in five minutes!

Take a look at the chart below. You can see how the yellow line crossed over the white line to the upside. That’s the “money cross” right there!

SPY

Technically, this is known as an exponential moving average (EMA) line crossover.

I use two exponential moving average lines on my intraday charts when I’m trading: the 10 EMA (yellow line on the chart above) and the 20 EMA (white line).

When the 10 EMA crosses above the 20 EMA on shorter-term charts (1- and 5-minute), you can usually expect a bullish move, meaning it may be a great time to purchase call options.

Of course, we’d be missing out on a lot of profits if we only traded the upside. The “money cross” is just as effective on the downside. When the 10 EMA crosses the 20 EMA to the downside, buying put options can be incredibly lucrative.

In the case of Wednesday’s trade, it was a bullish call option — the SPY June 24 293 Calls to be exact — that allowed traders to book profits in record time.

One trader made $2,300 off a single trade by following my alert today:

I will be watching for this pattern to play out in the days ahead and looking to repeat our success. Forty-two wins in a row is great, but I’m looking to make it 100!

In addition to watching for the “money cross,” I have my eye on some important support and resistance levels to guide my trading.

SPY broke through resistance at $293 this week. Old resistance becomes new support, and I am looking for SPY to hold this level.

I’ll be watching $296.50 as new overhead resistance, which is just above the ETF’s all-time high.

So, we’re looking at a nice $3.50 trading range, which is perfect for my Trade of the Day strategy.

My next trade will be sent at 9 a.m. Eastern tomorrow. If you’re interested in getting in on the action, you can sign up here.

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