There were many bearish factors in the market today.
-Market breadth was negative
-Crude Oil jumped
-VIX jumped
-Interest rates jumped
From a technical perspective the markets are extremely overbought. Overbought oscillators don't necessarily call tops but a simple -1% pullback is a normal market fluctuation on a day like today.
Since April 7, the Nasdaq 100 futures has only traded below its previous session low 3 times.
The market remains fixated in constant bid mode, regardless of anything else.
Many of our trading system signals went short and the market still remained relatively bid making it difficult to trade.
Hypothetical Trading System Signals on 05-04-2026
25 System Portfolio NQ = -$13,770
7 System Portfolio NQ = -$6,465
3 System Portfolio NQ = -$885
2 System Portfolio NQ = -$885
Stock Index Portfolio 18 = -$9,560
Diversified Portfolio 57 (NQ Only) = -$13,795
Silver Portfolio = +$4,425
50K Portfolio (Micros) = -$1,812 (without Gold and Silver)