Good morning everyone, as you know the market is down sharply, did not like that hot CPI data, which we said would be market moving.
Regarding the SPY and ES systems, as you know all the systems are officially in cash, but we kept a very small piece long outside of the systems via the SPY ETF with a hard stop. Realize that we locked in substantial gains on the bear long system a couple weeks ago by selling the SSO leveraged ETF and SPY call options. In hindsight I probably should have locked gains in on this small SPY piece last week when the SPX hit our symmetry target (that's where prices stalled.
Anyway on the open SPY long, which was purchased at 375.0, moving our hard stop up to entry break even. If you wanted to give more room stop would be just below the morning low.
we'll see what happens the rest of the day, I put out a couple options to monitor on the Trading Community. The SPX bounced near a lower trendline at the morning lows.
Matt