Day Trading Using the MEJT System: A proven approach for trading the S&P 500 Index

By Jeffrey Tennant

The MEJT System is a methodology for trading the S&P 500 Index - it uses the principle that market action at certain times of the day sets a pattern for future price action. The approach was developed by Jeffrey Tennant in 2002 and since that time he has employed it to enhance his market analysis and improve the success of his day trading. In this concise book the essentials of the method are outlined so that you can utilise it to complement your analysis.
Jeffrey Tennant explains what the MEJT System can and cannot do, describes the rules of the system, shows how to system on a day-to-day basis with a series of worked examples, and provides a backtest from a random historical week to show how the approach would have worked in the past.
If you day trade the S&P 500 Index this book may provide you with the additional tool you need to improve your profitability.
Jeffrey Tennant posts a daily video of MEJT System analysis on his YouTube channel: http://tinyurl.com/jt-mejt

• Language: English
• Publisher: Harriman House
• Release date: Apr 5, 2013
• ISBN: 9780857192899

Jeffrey Tennant

Jeffrey S. Tennant, MD is an individual investor. For over eight years he has been giving daily online analysis (most recently at www.timeandcycles.com) of the Standard and Poor's 500 Index. He has relied heavily on the MEJT System to make his predictions, and he wrote this book because of the large number of requests he received from traders who wished to learn his methodology. Jeffrey Tennant posts a daily video of MEJT System analysis on his YouTube channel: http://tinyurl.com/jt-mejt In addition to performing technical analysis of the stock market, which he has done for over 30 years, his lifelong interests include ophthalmology, trivia and chess. He and his wife, Noreen, have four grown children: David, Hilary, Andrew and Bradley.

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Publishing details

HARRIMAN HOUSE LTD

3A Penns Road

Petersfield

Hampshire

GU32 2EW

GREAT BRITAIN

Tel: [phone]

Email: [e-mail]

Website: www.harriman-house.com

First published in Great Britain in 2013

Copyright © Jeffrey Tennant

The right of Jeffrey Tennant to be identified as the author has been asserted in accordance with the Copyright, Design and Patents Act 1988.

ISBN: 978-0-85719-289-9

British Library Cataloguing in Publication Data

A CIP catalogue record for this book can be obtained from the British Library.

All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publisher. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published without the prior written consent of the Publisher.

No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading material in this book can be accepted by the Publisher, by the Author, or by the employer of the Author.

About the author

Jeffrey S. Tennant, M.D., is an individual investor. Since 2002 he has been giving daily online analysis (most recently at www.timeandcycles.com) of the S&P 500 Index. He has relied heavily on the MEJT system to make his predictions, and he wrote his first book The MEJT System: A New Tool for Day Trading the S&P 500 Index because of the large number of requests he received from traders who wished to learn his methodology.

In addition to performing technical analysis of the stock market, which he has done for over 30 years, his lifelong interests include ophthalmology, trivia and chess. He and his wife, Noreen, have four grown children: David, Hilary, Andrew and Bradley.

Introduction

Allow me to introduce MEJT: It is chat room shorthand. Me stands for ‘me’; J and T are my initials.

Allow me to introduce the MEJT system: It is a methodology I developed in the summer of 2002 to help me day trade the S&P 500 index. It is based on the principle that market action during certain times of the day can help predict future price action.

And allow me to introduce the track record of the MEJT system: It works.

Since 2002, in various online forums, I have posted predictions – based in large part on the system – before nearly every trading day. Most recently I have made my calls on both www.timeandcycles.com (a subscription-based service on which I also frequently comment intra-day) and on financial-trader-online.tradersdaytrading.com (a free site, on which I post after hours).

Since the autumn of 2005 I have kept track of all the targets that the system says are required to print. As of the end of 2012, a period of over 1300 trading days, there are only 17 days in which the targets remain unfilled. The track record for what I call ultimate signals is even better. There are only two of its targets that remain unfilled.

However, the system is not a panacea. The targets do not always fill when one would like them to, and a large move in an undesired direction can intervene before a target