Hello everyone, regarding the SPY and ES systems, here's an update:
- SPY systems: The Bear Long is triggering a 1st entry long. I'll show $10K of SPY and 1 SPY Call option with an expiration of Oct 21st and strike price of 401
- For the ES systems the open long trade from the Bear Long ver 2, which has been active since July 13th is closing out for a very nice gain of approximately 340 points. Realize the trade was up 500 points at one point.
- Ver 1 of the Bear Long is taking a 1st entry on ES. It may seem confusing at first that one version of the bear long is exiting while another one is going long, however remember treat each system as its own entity i.e. in this case one is closing out, while a different one is going long. I'll show the trade as 1 MES contract - you can of course trade whatever instrument futures or ETF that fits your risk profile and goals. Also remember that the ES bar does not close until 5 pm EST a full hr after the cash market.
Matt