SPX comments on August 11th warning about the next leg down.   A few days later, I pointed out the rising wedge within the channel and then the channel break.  Took some heat with those comments but my intention was to keep you from overlooking the bigger picture.   Sell was projected and SELL CAME. 

$VIX and $SPX were both red yesterday

"If there is one common theme to the vast range of the world’s financial crises, it is that excessive debt accumulation, whether by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom." — Carmen Reinhart

This sums it up quite well 

TRADESTATION?

Good morning all- received emails from TS that multiple indicators were removed from platform

I checked my charts and it’s true they’re gone 

ATR trailing stop- heiken ashi-&several others.  Anyone know what’s going on here.
very disappointing. 

Agree, well articulated on options.  If necessary we can pick our own. Maybe do a video on how to select and a permanent space that states beta for each entry.  I realize you have stated that many times.  Thank you. 

Please continue the option trades. If you need to simplify just have definite entries and exits. Traders can choose their own exit plan. The options are more profitable than the ETF’s $ and %.  They are a better tool for a smaller account. 

Just thanking Matt and Steve for all they do for the group.  It’s hard enough trading for yourself but even harder trading for a group that is following your guidance.  More pressure especially when you care like they do.  Appreciate the great site, systems, mapping, and the vibe.  It’s been a great year for me with my trading account hitting + 100% YTD this week and my 401k at + 8%.  Appreciate you guys.  You outperform just about every site I’ve tried and often at a fraction of the cost.  Have a great weekend.  

Yes, I have very nice net profits from trading the systems this year and I appreciate that.  Trading options in the 15-min time window can be stressful but can be very profitable.  But leverage is also available through futures.  It is on my todo list to become more familiar/comfortable with trading futures with good risk management.

Yes I also find that options are hard for short term trading for that reason. Plus the commissions. 

I have been using options along with the daily KISS signals however and making a killing! Thanks for that. Those are longer term swing holds. 

This poses a very real and serious risk to corporations trying to raise money.  

Thank You BPT!

Matt and Steve, your analysis has been spot on all year (and even longer).  I don't trade regularly due to owning a business, but your analysis has kept me from making "dumb" moves, and the system trades (I don't get to take all of them) are a great "low effort" way for me to participate and learn more about trading.  Enjoy your weekend!

Stopped right at the weekly MA. 

!VMCSUMNAS - NASDAQ Volume McClellan Summation Index - Chart Link-

the left open 1/2 trade for bear long had a stop at yesterday's lows, being the ETF breaking the lows. You can't set stops like that on options, so it's conditional, once the ETF was stopped out at the lows mid day (not the close), the options would be sold too, not at the 4:15 close. I can do better on my alerts and next time I'll make sure to send something out intra day as a reminder that the stop had been hit. One can also set conditional stops at their brokers meaning a stop can be set on options with a condition based on the ETF hitting a certain price, or you manually do it. 

yeah losing trades suck, they happen, but if you've been following the trades all year you have a huge amount of profits from the entire year

and quite honestly guys, I hate doing this options crap, it's the one thing that I'm always stressed about trying to get them in time, you have spreads, and since stops are tricky because of conditional orders needed, I may just stop the options trades - I need to simply things

LQD - Chart Link weekly view, almost back to the Mar 2020 low, wow!

LQD - Chart Link - monthly log view, so far just over 24% off the highs, back in 2008 this fell 27.3% - so it's almost falling as much from a percentage standpoint as it did back in 2008, and this bear market is FAR from over

Matt, two things. 1. Regarding the signal to take a second entry in the SPY QE 3.2, you had sold 1/2 of the first entry for that strategy on 9/28 due to market conditions.  Your posting implies that you would still buy two option contracts for the 2nd entry today as you normally would, rather than half as many.  Is that correct?
2. For what it's worth, I'll share how I screwed up yesterday. I did sell half of two different option positions for SPY Bear long 1st and 2ns entries, and bought a new one for SPY Bear Exhaustion as I meant to.  But in the scramble to get this done before 4:15 pm, I lost track of the need to set stops for the remaining SPY Bear Long options. I am paying dearly for it today!  Lesson learned on my ability to set up multiple trades under time pressure.

for some reason didn't show the correct chart, here you go

!MCOSIRSPX - Chart Link-  as I said on a new low this would start to setup a positive divergence. 

SPX I'll be taking the 2nd entry with the QE 3.2 system. My instrument will be SPXL, the 3x etf. This is for my trading account. 

Still no changes to my investment account strategy..haven't bought anything new and will remain patient. I do have some inventory still from lower levels invested. 

Have a great weekend everyone! 

SPX getting into the thin zone   https://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=2&mn=1&dy=20&id=p89439216531&a=857152373&listNum=61