HYG - Chart Link- been following textbook TA. Double bottom in June, stalled at resistance initially and taking it out on Friday. Longer term target may be the downtrend line from January

GDX - Chart Link- needs to close over the 9 EMA (not just an intra day poke above it) and for good confirmation trigger best to also see the GDX/GLD ratio break its downtrend line and the BPGDM break over that 9 EMA

gonna depend on what the dollar continues to do

could be lower risk buy down here given the XLE vs USO outperformance. The question is does USO need to tag that 200 day MA below or not, not to far away. Again depends on your trading style. If you are trying to time one purchase you may want to wait for a trigger. If you are okay scaling in some over time and willing to be early might make sense such: an example of a scale would be buying 1/3 now, buy another 1/3 if price dumps down again, buy another 1/3 after a good trend reversal confirmation

XBI - Chart Link-yesterday bounced near that lower trendline

here's the SPX kiss charts, things I discussed last night

the bearish things here are 1: the BPT MA has a 4 color change on the daily green,red,green,red, which signals an abc, and below the ATR actually an objective short. Also sell cyle on the daily and 1/2 day and those cycles lately have been good on those time frames

again tomorrow likely fireworks and the market trend will be set

obviously the CPI data tomorrow was not today as I erroneously wrote in the newsletter LOL

QQQ - Chart Link- nothing really to say about the market, the same thing applies as last night. On the QQQ's here, as long as price can stay above the confluence of those trendlines it could try and rally up again. Notice the MA ribbon is pinching

keep an eye on the FANG names, most are fine, the problem area today is MSFT

$SPX - Chart Link- 2 hr view, again still in that channel

$SPX - Chart Link- 15 min view wedge like but also could pullback in that wedge again as well.

SCO - Chart Link on Friday I pointed out that it was lower risk buy there on the retest

APA - Chart Link- doji off the 200 day MA, nat gas energy stock

WLL - Chart Link- testing a long term trendline

AMZN - Chart Link-strong support has been held for now

FXY - Chart Link- weekly CCI doji long setup

AU - Chart Link- wedge

GDX - Chart Link - here's a cool old chart of mine, shows the BPGDM, which has fallen to 17.24%, along with other indicators. On GDX itself it had a nice bounce on Friday but for now stalling at that previous big support turned resistance. You can draw a wedge like pattern with MACD divergence

what to monitor now is also the BPGDM and the 9 EMA, that's been a good guide, and the GDX/GLD ratio trendline - all these could be confirmation triggers for a buy if they trigger

$BPGDM - Chart Link-

XBI - Chart Link it's had a flag look to it the few days, the pullback from that downtrend line

this image show the bear long on ES futures - SPY is not open yet but it gives us a clue as to what the SPY version may do. As you know it took another entry yesterday.

HOWEVER this is important, unless the market can rally today, the system will be closing out! The trending indicator has turned back red so unless we have a good bounce/rally attempt today in order to turn that back to green, it will exit.  

WLL - Chart Link I posted this last week - didn't make it to the lower trendline but was lower risk long around that 200 day MA and the fact that it had a nice correction off the highs

best to google it but otherwise here's a scan that should be obvious. You can count the sequence in an uptrend or a downtrend. It's widely used in industry for years. Basically a Demark 9 uptrend would be 9 consecutive closes that are greater than the close 4 days ago, and inverse for down moves. 9 is the one that is mostly used, however 13 is another one that is harder to trigger because you need to have this sequence 13 times

you can send me an email: bptrades@gmail.com and I can see what you are looking out, can't really comment until I know what you are looking at. 

strategies can be done in a many ways. For the SPY and ES system strategies since they are daily strategies my approach there was to test as far back as possible finding settings that worked in all market conditions extreme bull, bear, sideways etc - I wanted to get as much data as possible. For day trade strategies that's not generally very feasible because of the sheer volume of data - like if you try and backtest a system setting on a 5 min chart going back to 1995 - your test might take days or weeks. For intra day strategies the best thing is to either backtest every couple weeks or every weekend so that you are always adjusting to the current market. Another method that is a lot more complicated but it makes a lot of comment sense to me would be to look at past movements and run multiple backtests for different market environments. And example would testing conditions when the market was in a strong uptrend staying above the 20 day MA. Then test another set of conditions where price is sideways. Then test another set of conditions where the market is downtrending.  You would get multiple variations of settings for your strategy for different market conditions and run the one that fits the current market conditions. There's some subjectively doing this but it's a logical method vs trying to curve fit one set of conditions over many years. 

120 min and 195 min finally kicked in. But as I've been saying in high volatility I like the 60 min for early entries then if you wish to give more room after the bigger time frames kick in like 120 min or 1/2 day, use those for exit or some combo. 

the daily and weekly trend systems will in cash most of the time, which is why I've been showing these faster time frames.  The 60 min went long on Wed

otherwise as far as the market I think this move off the lows is some sort of wave A. Once complete we'll see a probably 150 or 200 SPX point pullback as wave B, then up again in C

Daily systems as you know will stay mostly in cash during bear markets, and of course the weekly ones as well

shorter time frames can go long for periods as I've shown. Here's an image showing the 195 min 1/2 day, 120 min, and 60 min

the 60 min went long on Tuesday - been mostly sideways since but you can see the DVT's

the 195 and 120 min have not went back long yet. 

anyway sharing because I said I would show what these do - that 60 min gives a stop out idea

$SPX - Chart Link- testing VWAP again. So far 60 Stochastic is still holding above 80% so still possible that we see another pop in after noon  for a trend type of day

$SPX - Chart Link- 10 min update view

$SPX - Chart Link- we gapped over the resistance this morning - breakaway gap, that initiated a trend type of day. 

here's one potential count

most of you know understand this but I still get questions about this system whenever it executes. 

quite simply it's a system that looks for washout long trades almost exclusively in bear market environments. For example there's a combination of indicators that I use, which must line up and when they line up price has to have been below the 200 day MA for a long enough period of time and the slope of the 200 day MA needs to have a negative slope. 

again it's simple a long trade that occurs almost exclusively in bear market environments, and it's hard to trigger. Not has hard to trigger as Bear Exhaustion, that's probably the hardest one to trigger - very very rare to ever see those. Bull exhaustion is hard to trigger as well but as you've guessed it, only occurs in bull market environments so we won't be seeing that trade setup

sub systems we won't be seeing trades from: the momo long systems, trend/pullback won't trigger much, bull exhaustion, exhaustion short 

PATH - Chart Link-

BABA - Chart Link-