Trading the trend
Systematics continue adding to longs, trading the SPX trend successfully. On July 5 (<a href="https://themarketear.com/posts/cnc4JVCbvH" rel="noopener noreferrer" target="_blank">here</a>) we reminded our readers that above 4500 the CTA community needs to add to longs, i.e reload. Add to this vols moving lower, and the systematic community needs to chase this even higher. They do not trade emotions, just their models.
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