We've been evaluating the Hooper Quantitative Model for longer weekly based signals for the past year on the SPY. The signals are superimposed on the weekly chart below. Hooper has been able to catch the larger weekly price swings with acceptable defined risk.
Since the 127.14 swing low on the S&P ETF in Jun '12, the weekly model has remained in a bullish mode completing its 4th Buy pattern price objective this week. The newest Hooper Weekly Pattern triggered this week flips bearish @142.59 and remains in bullish mode > 143.66.
IMPORTANT: Once a buy/sell signal is triggered, executing that signal between the trigger price and the mid-point with stop at opposite trigger is the prime objective. More about the Hooper model here: Hooper 101
(Click on graphs to enlarge. May need to click a few times to get to full size)