Good morning and happy Friday. This is a quick update on the open long position from the SPY system, which we still have the open position via the Trend/Pullback sub system - we trade both versions, we closed out 1/2 the position when the more aggressive exit version closed out on Wednesday.
Anyway I was thinking that today the last open system might close out today as the indicator I mentioned (BPT DS) is now over bought), however some kind of momentum hold condition must have triggered, and now the system is instead going to hold the trade and stay long instead of closing out today.
The market continues to push higher with earnings (except for the Russell), and we have a ton of big stocks reporting next week, therefore maybe the market will continue to push, which is fine with us as we stay long with the system.
Also new DVT's have been generated this week as the market moves higher, we'll update those this afternoon.
enjoy the rest of your summer Friday