Hello Everyone,
This is a very abbreviated newsletter as I'm leaving tonight and still need to pack. As far as the general market nothing changed from what I discussed in-depth on the weekend; today was a consolidation day as expected, and I believe this consolidation may last for another day or day 1/2, possible form a coil-like pattern, then resolve to the upside later in the week. We are still targeting that 4200 - 4220 zone. Also note that there are a couple of timing windows that come in on Aug 5th (Friday) which is the 34th day off the June low, and there's also timing window on Aug 9th.
Regarding the SPY and ES systems one of the ES systems took a 1st entry short today, the Hi Mid Lo.
Open System Trades
- 1st entry Long from Bear Long system
- 1st and 2nd entry Long from Breakout system
- 1st Entry Short from the Hi Mid Low today
Administration Note: I will be leaving on Aug 2rd and won't be back until Aug 12th. Regarding the SPY and ES systems James Roe will be emailing out trade signals. However, James is not me so there won't be as much communication about the systems. Also, James will Not be emailing out option trades for the systems, only ETF's and MES. If you wish to buy the options on your own, what I typically target is SPY Call and Put options that expire roughly 2 months out. I also target options with a delta of 0.65 for the 1st entry, 0.6 for 2nd entry, and 0.5 for the 3rd entries.
