This is a good sign.  One of the hallmarks of a robust system is that it work well with a variety of different instruments.  The SPY system certainly seems to meet that requirement.  

Tom, could you talk about how rule #3 applies to this signal?

If he's mad, then the Republican leaders of Congress are raving lunatics:  approval rating for them has fallen to 25%, disapproval 66%.

The failing of traders who aren't disciplined is cherry-picking.  The problem with news is that you can cherry-pick that too.  The result is often reacting too late or improperly.  

I think that the only way to make money in the market it to learn a few things well and stick to them.  Even having too many charts or indicators can lead to trouble (cherry-picking again).  

Most traders (and I don't mean the good ones, such as Matt, Kobie, etc.) would be far better off today if they had invested in Matt's long-term SPY system (the free one) and done nothing else.  If they are now also using the subscription SPY system and the GDX system, they would be far, far ahead of the game.

Again, I speak for the majority of subscribers who need discipline.  I've learned the hard way to stop reacting to news or a thousand charts and indicators and stick to a few tried and true things.  

I find this market to be quite logical.  I follow a few trending indicators (among them the SPY system) and they're working fine.  What hasn't worked is when I've tried to outthink the market and have decided in advance what it should do (or, what amounts to the same thing, when I've cherry picked indicators that confirm my bias).  When I've imposed my own expectations on the market I've gotten creamed, but the joke wasn't the market, it was on me.

The new system's profit target of 13.5% has been hit, so there should be a sell signal.  I think that Matt just hasn't updated the current status of the sytem at the top of the page.

If you don't mind Steve, could you also recommend a stop for MCP?  

Thanks for the tutorial, Matt.  

I see your point about how you use Elliot Wave.  But you might want to address the problem I have with the theory:  namely that it seems to have consistent predictive value only retroactively.  

In your view, can one use Elliot Wave to make consistent predictions about the future behavior of a stock?  In other words, do you think that it's possible to successfully trade a stock in realtime using Elliot Wave?  Even if it's "one piece of the puzzle," for it to be a useful piece of the puzzle it should be able to make consistent and verifiable predictions.

It might be interesting to paper trade a stock or etf using just Elliot Wave information and see what kind of results ensue.

"Truth is it is either going to go up or down."

Wait a second.  Do you have any charts to back that claim up?  Or at least a wave count?

Not about the SPY system.  

I think that this is a good idea and would help subscribers feel more on top of what the SPY system is up to.

Matt, could you tell us, in a general way, what the SPY system looks at to determine if it's in an up or a down trend?  Is it a being above or below a certain moving average, etc.?

Thanks, Tumbler.  Your work is much appreciated.

When I go to the website, the code for this indicator is already there.  Just copy and paste it onto your TS powerlanguage editor.

Is there any reason why it wouldn't be a good idea to set a stop loss at market open instead of selling outright after a sell signal has been issued?  

This would only be for a a day (in other words, instead of selling tomorrow, a tight stop is placed as well as a Sell MOC).

I don't see a downside to this strategy, but it is not hard to imagine that I'm missing something.

Definition of Bilderberg/Goldman:  the reason the stock market isn't going the way I predicted.

Good question.  I'd like to know too.

I'm not trying to be provocative; I'm just trying to understand why, with results like that, anyone would want to put up with the hassle of running a hedge fund.  It seems to me that you could become ridiculously wealthy just trading ES contracts.

I.e., it's like investing over $600,000.  People should be aware of what that means and of the drawdowns it entails.

And just to be clear, I wasn't talking about tweaks.  Tweaks are systemic.  I was talking about the tendency to override the rules but not taking trades, closing out trades early, etc. based on one's sense of where the market is going.

I'm afraid you read backwards.  Try again.