One of the things that makes this market so difficult on noisy/chaotic trading sessions is that the Nasdaq futures can travel 200 points quickly and randomly and it isn't indicative of anything real. A random 200 point move is $4,000 per contract in the E-mini and $400 per Micro contract.
The Nasdaq rallied about 450 points off its lows today to take out the session highs before rolling over to the middle of the move. The fact that it always comes back to stop run by taking out the highs can also make it challenging.
The more "overdue" the market is to have a pullback, the more energy it has to rally. Its the most unusual and most difficult market I have seen. The price action seems very artificial based on years of studying price action.
The order books have been less liquid this year as well.
If we had a 1987 style, 20% correction, it would make sense after this extreme runup.
Most portfolios are in drawdown alerts or at worse case drawdowns as we work for a bounce. The strongest setup is the Seven System Portfolio while the portfolio that is in a drawdown alert with the most equity peaks this year is the Stock Index Portfolio 18.
Hypothetical Trading System Signals on 05-19-2026
25 System Portfolio NQ = -$14,150
7 System Portfolio NQ = -$4,775
3 System Portfolio NQ = -$1,375
2 System Portfolio NQ = -$1,375
Stock Index Portfolio 18 = -$8,975
Diversified Portfolio 57 (NQ Only) = -$15,525
Silver Portfolio = -$6,600
50K Portfolio (Micros) = -$1,846 (without Gold and Silver)
NVDA earnings are tomorrow. I anticipate we will get a Gap and Go trade soon as we have had nothing but noise at the open lately, after a series of sharp Gap and Go's
Proteus subscribers have had some positive results lately trading in the morning session. I go over one of the Market Replays for the June contract and see how the first two hours of the days, when there seems to be the most chaos and noise, has been favorable for Proteus.