Plus seems like the big boys have advance knowledge of a good CPI. No way they run it up to a key announcement without some info leaked.  Expect a lower CPI. 

Who is predicting a short squeeze?

Check out the systems tab. All the trades are listed there for SPY and ES.  Last time I looked about 15% of trades end up with 3 entries.  The reason most land up profitable is that you are adding more contracts on the 2nd and 3rd entries.  However, you can see the max drawdown stats too.  Some 3rd entries went 100 points or more in the red before ending up profitable.   Right now with the ES systems the market would have to rally to 3980-3990 to breakeven.  Hope this helps.  You have to be able to stomach being upside quite a bit in some cases before turning profitable.  

Good to bad for market?

Keep them coming.  Please let us know when next reversal comes so we can track real time. Just for kicks. 

Nice call on Bitcoin.  Caught this one with BITO put options.   Thanks.  

Cotton futures:  not sure if you guys track but if so can you share a chart?  Limit up last 2 days.  

I know Steve and Matt both believe the market will go higher first but that we are likely still in a bear market.  However, I was reading that no bear market rally since 1950 has exceeded the 50% retracement.  Yet  we are likely going to hit 61.8%.  Not sure if we had larger than 50% retracements prior to 1950.  Any thoughts?  

That's pretty interesting.   So market peaked in April when at similar and bottomed in June when this was lower. 

And what I do for the systems is take every trade.   So if Matt has a long, I take a long.  If another system adds a long, I add another long.  If one takes a 2nd entry then I take a 2nd entry.  If one then goes short when I have some longs, I take the short.  That keeps it very simple and you will get the same results that Matt records.  Just map out the capital you will need to do this.  If you trade futures, you may need to use a later month to trade both long and short.  Go back and review past trades and see how many max trades are open.  Have enough funds to take the 2nd and 3rd entries.   If you do this, history says you will be profitable.  And he plans to add more ETFS in the future.  So more "action."   

I think sometimes we hear what we want to hear.  When Steve posted about a 900-1000 point drop in the S&P,  I am sure some of us loaded up on shorts.  He adjusted that comment a little later saying that there could be a secondary high (which indeed came today).   Steve has done an amazing job with mapping the market.   However, I think for the less experienced trader or those with a tendency to let emotions get the best of them, it is best to just follow Matt's signals.  Why?  Because they provide objective entries and exits.  Just discipline ourselves to follow them and keep our thinking out of it.   But don't try to out think the systems either.  Matt has spent a tremendous amount of time developing them.  Why think we are smarter than it is?   The one MES trade he mentioned provided a year's worth of trading income for many with a rather smooth ride up.  That's just some advice from someone that has a tendency to let emotions creep in or interpret comments towards my bias to implement trades.  For some of the advanced traders in the room,  they can also play the other trades, market comments, etc.  Face it - they are much better at it.   But for some of us, just stick to the system!  And don't overtrade or want to have action all the time.  Be patient and wait for the trades.  Have a good weekend all.  

Amazing 

CNN fear greed indicator has moved from extreme fear to fear and now to neutral.  Perhaps supporting Steve’s thesis of getting the bulls back on the bus.  https://www.cnn.com/markets/fear-and-greed

Feedback.  Like the next morning option.  Sometimes it seems like you are too pressured to rush out the trades.   Not fair to you.  Plus oftentimes the market moves against us to start so we might actually get a better fill in the morning.  I do like the ES trades but understand if you need to drop.  Maybe you could convert that to next morning too?  Just an idea. 

Matt, your systems are beautiful.  Much appreciated.  Also great call by you guys on market hitting 4000 gap.  Amazing.  

Thinking that a resumption of bear market after we hit 4020ish is too obvious.  See Steve and Matt scenario of 4200 as more likely. Spend a week over 4000 and keep climbing to a non round target of 4200. Will make even the bears think market bottom is in.  Also SPY and ES systems usually have at least a second entry.  That does not come without 50-100 points moves higher.  Maybe we don’t get to 4200 so even technicians get faked out but top at 4150-4180.  Pure speculation on my part but based on how things seem to go in the past.  

Wow.  4250.  Over what time frame are you thinking?  In this current push up?  The summer?  Fall?   Just curious as to potential timing.  The general feel I was getting was that we may push higher into the end of July and then start a decline again.  Thanks Matt.  

Positive or negative for market? Sorry posted incorrectly earlier. 

Positive or negative for market?

Thanks.  Good summary.   I too believe markets are going lower.  Like the concept of over correcting.