Good afternoon everyone, as you know the market is having a good day - in last night's newsletter I favored an upside move in the market and we are targeting this 4220 area. I discussed the recently consolidation as a wave iv and leaned to an upside move for a wave iv.

However on the reversion to mean system side of things, another one of the SPY systems is taking a 1st entry short today, the Hi, Mid Low sub system.  That will make 3 of the sub systems in 1st entry shorts. My job is to communicate what these 40 sub systems are doing. You do what fits your risk profile and strategy. Should the market go to those higher levels, these systems may end up taking 2nd or even 3rd entries.  The reversion to mean systems are mutually exclusive to our subjective technical analysis.

For the trade I'll show 10K SH ETF and 1 SPY PUT option with 434 Strike price expiring on Aug 19th 

The other two systems are taking 2nd entries: for these we'll show $10K of SDS ETF and 2 SPY Put options 430 strike expiring on Aug 19th

Matt