Monday should be interesting, the SPY system may nail the bottom but its, it's own indicator for sure. 

Thanks for letting us know on the systems....they have become a great indicator! 

Matt, yesterday you mentioned a possible SPY system trade. (or ES) Is this still showing? 

Thanks for this chart. I bought a very small amount here but think it may go a little lower and then possibly rebound to the upper lip? 

Put/call is pretty high at 1.3 but the McClellan indicator is not outside the bollinger bands yet. In this market, it would not be unexpected to see a big washout and go below the bollinger band. 

Appreciate the tweak on trend/pullback...the exits on the new system were just right and you did mention the exit for second half early in the day yesterday

Keep us posted if any of the new systems show a last minute buy

I have to ask,  any SPY system trades looming today? 

That makes sense...margin calls

If this is institutional selling...where are they going to put the cash...I bonds? 

Except for GRYN...lol...just gotta add some humor.  That one has already had it's vacuuming...

Intraday put/call is 1.21 (at least last hour). We are getting into thin air so I would expect a bounce but it is Friday so maybe not. 

https://www.cboe.com/us/options/market_statistics/#current-stats

I can see how that might get missed; most of these trades are reversion to mean. 

It would be nice to have a separate blog section for the SPY/ES trades  OR maybe a separate subscription. 

Yes, you did! What are your thoughts on that big gap below on the weekly chart? 

Does not bode well for the smallcaps. I think Steve may have shown something along this line in the newsletter last night but here is a weekly chart IWM. Not saying it will fill that gap but it is kind of obvious and ominous. 

That's kinda scary... thanks

Intraday put/call is at 1.08, getting up there again. 

Any new signals on SPY system? I'm guessing most of us are in cash here. 

I agree but still don't see it cooling quickly.

The Northern Virginia area has become the "data center capital" of the world; somewhat quietly. Microsoft, Google, Salesforce and even FB all have huge data centers in this area. Amazon moving it's headquarters in. That has forced property values through the roof, especially now.  I'm in real estate and have felt the pain while trying to help buyers. On the flip side, getting a listing is like a freebie as they still sell first weekend.  (usually avg 50K over asking, all contingencies waived). 

Nearby is Wash DC, which saw deals to be had during the pandemic. Quickly bouncing back as people get back to the office.  Those property values are quickly catching back up! 

My buyers are looking out West now, in the rural areas desperately trying to afford property.  (like two hours outside DC).  

Therefore, I think property values around here will plateau and possibly go up another 5% this year, even in the midst of rapidly increasing interest rates.  Millennials are driving this and Boomers (still in workforce) aren't selling= no supply.

Great, will check back in near the close for any exit signals on the systems. 

Nice, thanks for pointing that out yesterday! Do you think this is a trend day? 

Thank you, noted that yesterday and helped me make a few of the right moves.