on SPY system 3rd entry not even close

    Posted by matt on 31st of May 2019 at 02:59 pm

    the third entry on the QE BTS system is quite wide, below 271.87, so NOT even close, we'd need to sell off another 44 points on SPX to hit that. it's possible another sub system could take a trade but not today such as CCI oversold, Bull Exhaust, Bear Long, RSI oversold, but none of them are close. Remember we are now trading the individual sub systems in order to get the most trades. 

    Thanks Matt. I am making

    Posted by jdaswani on 31st of May 2019 at 03:38 pm

    Thanks Matt. I am making my first entry today at the bell using the Aug 260 calls. any reason why i shouldnt take that trade here?

    weekend unknown etc.  Otherwise if

    Posted by matt on 31st of May 2019 at 03:44 pm

    weekend unknown etc.  Otherwise if you are not in any other entries you have a pretty good price by avoiding those.  The Mexican tariff stuff came out of left field and is concerning for the market.  on SPx daily 2740 and 2730, and 2720 are your next areas of support.  If 2720 area lost though that opens up door for 2660 as there's a bit air pocket below that to the next daily pivot.  the H&S on the Dow still measures quite a bit lower.  We might also need to see a spike up on the VIX.  Anyway up to you man but clearly if you have no prior entry you are beating the system with an entry today.  Again your decision. 

    Trend long system is flat, I'll let everyone know when that goes back long as it will have a stop.  


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