Hello everyone, first things first, tonight's newsletter will be posted late, I have a family function to attend to

- Secondly regarding the SPY and ES systems, which I send out trade signals to, there are 40 systems. Despite the continued sell off in the market, the SPY systems have resisted the urge to go long, however should we see down prices yet again tomorrow we could possibly see the bear long sub system take a 1st entry long.  Also, regarding the ES systems, today at the 5 pm closing bar one of the Bear Long systems took a 1st entry long. I have two versions of this system; the one that triggered a 1st entry today and one that is a bit pickier and has not yet taken an entry (it could possibly take one tomorrow). I'll go ahead and trade both versions on the website.  On the website we take ETF and option trades for the SPY systems and for the ES systems we trade the MES micro ES contract. 

Anyway, regarding the markets, Steve and I warned about this way back in November and December.  Our only hope is that we only see a bear market, and not something more extreme with the financial system.  Short term in the market, the SPX is near some target levels and has a potential wedge.  Long term it's all about the macros and they are horrible. Use strong bear market rallies as opportunities to sell longs and/or short/hedge

see you later tonight,

Matt