Is the Fed ready to pause in the fed funds cycle? It sure seemed that way to a lot of people today, sending the equity indexes and interest rate futures soaring. It is hard to believe inflation is contained when one looks at all the other commodity markets - Gold, Silver, Copper, the grains, Energy, Sugar, virtually everything was in rally mode today.

Our TNR model was calling for a Reversion day in NQ today, and we hit our money management stop on the massive rally for a loss of $558. Tomorrow, we are calling for a reversion day in ES and NQ.

Our open positions:

Contract	ctrcts	Open P/L	days on		Contract	ctrcts	Open P/L	days on
@US.P	0	$0	0		@NG.P	0	$0	0
@TY.P	0	$0	0		@KC.P	0	$0	0
@FV.P	-4	$4,363	52		@SB.P	3	$9,542	140
@EC.P	0	$0	0		@CT.P	0	-$5	4
@JY.P	-1	-$738	50		@GC.P	3	$28,380	151
@CD.P	0	$0	0		@SI.P	1	$24,070	102
@C.P	0	$0	0		@HG.P	2	$47,100	219
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	-2	-$1,250	10		@ES	2	$4,850	102
@CL.P	1	$2,490	1		@YM	3	$1,090	23
@HO.P	1	$4,227	5		@NQ	3	-$650	8
		Total Open Trades			$123,469
		Total Closed Trades			-$20,145
		Total			$103,324

Good luck, and have a great evening!