MJ is tempting here.  Steve, any thoughts on stops? 

http://schrts.co/aAVzxyGZ

Matt, I'm assuming your 2 hr trend trade system may have stopped out today (or recently) but not absolutely sure. Wondering if that is the case if you will alert us when it goes back long? 

Looks like BPSPX Renko might be confirming

Ha, I can imagine...have a drink tonight, unless you don't drink   

Matt, thanks for all you do; I know you carry the burden of the trading system especially when we get that rare (slightly losing trade) which hasn't even closed out yet. For all we know, after a second entry it could be a huge winner!  

As the market churns higher gaining maybe .3% per day, we need to be patient knowing that when it does fall or correct, it goes down very quickly and can wipe out three weeks of those types of gains in 2-3 days! 

I feel that the short position is a very minor hedge in this market and a good test of emotions. We should all understand our own emotions and knowing how to handle these feelings make us better traders! 

Yep, that's why it's a clue to market action...even if the "clue" as 2 days ago...just sayin maybe this is more of the real thing

HYG and JNK moving down. Watching these for clues...

http://schrts.co/pqrGJinX

First time pasting a link; not a paid stockcharts member so not sure if the link will work! 

How about NLY (reit)? Pays over 10% I believe and fairly stable. It's had a pretty nice run as of late.

Thanks for posting this chart! CRM had a beautiful breakout very early in January preceded by a move in December from kind of a handle. (cup and handle look). Any targets on this? I was initially thinking 195ish, but it's gone so far so fast, maybe needs a little consolidation soon? 

Thanks Matt for the helpful vid! It's good to know that this short is probably one that is occurring within a trend vs capping the end of the trend. 

Btw, are you still working on or considering including the ES system on the website? Does that have any short components? 

Hopefully before the next big buy-in on the 2 hr system  :) 

This is the perfect complement to the SPY HP system in my mind

Love this 2 hr system, when do you think  you will be ready to share it with members? 

In my limited experience, I have always placed a limit order as well and then pennied-in to a certain point if not picking up. 

I also only trade options on highly liquid underlying etf's or stocks like spx,  qqq or rut for example. The spreads are way better.

Dang, you might want to find a nuclear waste site to dispose of those! You've got me thinking about buying one of those gieger counters.  I'm in real estate and people always ask about granite countertops since there was some buzz awhile ago about those emitting radiation. Good to know yours don't! 

Nice, thank you Matt... Great newsletter! 

While you are waiting to get the details and backend stuff done, I appreciate that you are sharing when the ES system takes a trade even if timing is not perfect. This last time, I was able to get in on the trade the next day at a relatively similar price to the close the day before. I am still in this trade and enjoying the gains. 

It is nice to get more frequent opportunities as the SPY system seems to have more signals when there is a substantial pullback in a reversion-to-mean type trade. (although I realize there is a SPY breakout system too).

I do see the dilemma with the options trade placement and the possibility that there could be a false signal given prior to 5pm. Maybe members could have the understanding that this could happen if they are placing options trades. If not and just using this for ETF signals, at least there are that many more trading opportunities. 

On this trade, will you be letting us know at the close or doesn't the ES system work that way? 

Lookin good on Silver stocks. I bought the straight etf  SLV based on your comments and rewarding as well! Wondering, now that these are mostly all breaking out and especially the overall sector, how would you play these? I'm thinking this is the start of a run but would you start placing higher low stops as things progress and/or is there an upside target? 

Such cute little ones, hope they and you had a great Christmas! 

I am looking forward to your upgrades and also the existing system. For what it is worth, I was using QQQ for half of my positions with the SPY system and it worked quite nicely. 

On the 2 hour stuff, this seems like the perfect complement to the SPY system (which is usually  more short term). I would love a 2 hour swing system for the intermediate term  holds.

Have a great New Year Matt and Steve! 

Okay so those four filters need to be triggered to get the buy on the two hour chart. Makes sense, thanks for clarifying.