Hello everyone and happy Friday, as you know we saw a strong rebound on the market (helped by a reversal in the US Dollar and Bonds). 

Anyway, regarding the SPY and ES reversion to mean systems, the QE BTS will most likely take a 1st entry short on MES at the 5 pm EST bar closing. PLEASE NOTE, that MES futures do NOT reopen after 5 because it's Friday.  James Roe will reply on the Trading Community about 10 min before the 5 pm EST bar close to confirm that the conditions are still being met, and he will then post an image of the systems showing a confirmed trade.  If you intend to follow this trade by shorting MES futures, you have to enter before the 5 pm close. If one is buying the SH inverse ETF instead, it's not an issue as it trades until 8 pm. For the website I'll show a 1st entry as short 2 MES contacts. 

I will have to leave for a Dr appointment so please simply check the Trading Community for that update from James

https://breakpointtrades.com/blog/

On a side note,  Should the market follow through to the upside on that diamond pattern to higher levels, I could see this entry being early and perhaps requiring multiple entries. Personally I'm holding my UPRO long from the morning entry (subjective trade not system trade) but will take some SH with regards to the system entry (inside its own bucket basically)

enjoy the rest of your Friday and have a great weekend!

Matt