Hello Everyone,
Market Observations:
Long Term: Bear Market, Intermediate Term: Downtrend, Short-Term: We appear to be in a corrective ABC pattern and currently in wave B or an expanded flat.
Market Comments
: The SPX lose -0.7% today while the Nasdaq lost -0.85%. The market still appears to be in this corrective abc pattern with the current action being wave B. Realize folks that corrective patterns can take many forms, and one of these could result in a retest of the lows as an expanded flat. Energy stocks stand out and I added a few names to the trade ideas
News Items: We are in earnings season now and the reports will be potential price moving catalysts for the markets. Also, unfortunately we have to keep an eye on the Russian / Ukrainian war and Putin Nuke potential
Bonds/Rates: TLT 20 year bonds continue to relentlessly sell off, while 10 year rates go higher
Currencies
: The US Dollar appears to be coiling, energy is building and could easily have another pop higher
Reversion-to-the-mean systems: The 22 systems are all in cash (need a good rally to see some shorts, or a good sell off to see new longs)
KISS Long Only Trend Systems: no changes they remain in cash. Remember, because we are in a bear market, the daily and weekly systems will be in cash most of the time, and when they do go long, price may be well off those lows; I mention this because if you wish to get into the SPX or QQQ for a trade opportunity, you may want to consider using something else to get in earlier.
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Admin note: We've added a testimonials page
, please help us and add a testimonial! Thank you all who have submitted one so far; Steve and I are humbled by the ones submitted so far.
https://breakpointtrades.com/testimonials/
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Also - after over 11 years, we are going to do a slight price increase on membership prices. (maybe $10 - $15 a month for our 6 month membership) Our prices are already insanely
low compared to our peers. Another thing to put into context: our systems produced 50 trades on SPY and 50 trades on ES in this highly volatile bear market. The Average net profit on the ETF and option trades was $250, and $720 for the MES trades and that's with 50 of those trades - put that into perspective if you are worried about a $10 or $15 monthly increase.
