mean reversion systems update - open ES trend/pullback may exit

    Posted by matt on 10th of Apr 2024 at 08:27 am

    the CPI numbers will be posted in a few minutes, otherwise at this moment the open ES Trend/Pullback and momo systems are looking to exit -again for this to happen futures have to be at current prices or maybe slightly below or up, if the market were to dump then they won't exit

    futures dumping across the board,

    Posted by matt on 10th of Apr 2024 at 08:30 am

    futures dumping across the board, hotter CPI

    Will this be the 1st

    Posted by DigiNomad on 10th of Apr 2024 at 08:42 am

    Will this be the 1st CPI since ever since where we don't have a headfake? Stay tuned. Still early.  If the market decides that margins are safe (e.g. most companies can pass along higher prices)...then higher CPI = higher revenues.  

    Looks like a little structural damage on the SPX 4 hour now.

    I was thinking the same

    Posted by icecoldjones on 10th of Apr 2024 at 08:45 am

    I was thinking the same exact thing as I wonder if this will bounce back to even by lunch time. I hope it holds...

    1st move is emotional -

    Posted by DigiNomad on 10th of Apr 2024 at 08:49 am

    1st move is emotional - oh no, inflation! 2nd move is typically more rational and could be...oh nice...inflation! 

    true on that, and mostly

    Posted by matt on 10th of Apr 2024 at 08:56 am

    true on that, and mostly the case on FOMC days.  Gold dumped hard on that first, has bounced back but at the moment it's bounced back to resistance, former support, we'll see what it does here - gold was a low risk short on that bounce back to former support

    and we'll see how the market reacts after the open, ES has barely bounced off its lows

    remember I took off that

    Posted by matt on 10th of Apr 2024 at 08:46 am

    remember I took off that second ES contract yesterday, good thing now in hindsight, so there's only 1 open MES contract, very very small position for those mean reversion systems

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