Good morning everyone, we are looking at a substantial gap this morning with ES futures up 55 points.
Yesterday the SPX broke symmetry, which was a positive sign, remember I'll be doing an educational video on that soon
Regrading the SPY systems, as you know one system exited yesterday the CCI systems, and I elected to only exit one of the SPY call options (not all of them) and not ETF positions, which now looks like a good call. I'm also following the systems, we entered the trade based on the Trend/Pullback sub system 2 entries. The Trend/Pullback system, there are 2 versions, one will likely exit today at the close, and one will probably continue to hold for a larger trade.
The QE BTS system is exiting this morning on the open - this system exits on the open because it takes advantage of historical statistics where the market has historically made the majority of its gains overnight via morning gaps.
You have the information, you can decide what's best for you, either exit some positions this morning or wait for the close for the Trend/Pulback to exit
On the gap up this morning - one thing you can do is monitor the gap to see how it holds up the 1st 15 min or so - if this happens to be a Trend Day, where prices run up even higher to mid day you can get better prices later today.