Good morning everyone, well as you have seen with the market, despite earnings season all those warning signs we've been showing for days (the negative breadth, the divergences, the drought of good long setups from my scans) finally came home to root. The SPX was down nearly 100  points at the morning lows and tested its 50 day SMA, where for now it has bounced off.

Anyway the reason for this email is an early FYI that one of the SPY reversion to mean systems will most likely be taking a 1st entry long today, the Trend/Pullback. I'll confirm late in the day but otherwise here's my sticky post regarding this. I'll also respond to this sticky post during the day with new information as it unfolds. Also the open SPY breakout long we still had with the SPY ETF shares was stopped out on the open for a very minor loss. Remember we had taken profits on the option a while back which overall made the trade nicely profitable.

let's see how the rest of the day unfolds,

Matt