Today was one of those days where the market tried to shake off all intra-day longs. We have seen this choppy pattern before and with a drop in the VIX and anticipate the market will make its move over night even though tomorrow is Jobs Friday. Friday's can be one of our top trading days.
The One Million MNS traded the best of our Nasdaq strategies but endured an extremely noisy day with lots of energy and reversals in a relatively narrow range. The One Million MNS was down -1.15% while the 250K Portfolio was down -$2,300 in live trading. There were no V-Reversal or Gap Continuation trades. The two Nasdaq strategies that trade in the after-hours endured some challenging price action. The market reversed on many of our signals immediately.
This gives us the opportunity to add the Long ON NQ strategy to the setup as 2 Nasdaq strategies are currently long in the afterhours, with 60M Breakout already hitting a profit target near the highs of the session. The highs for the Nasdaq are about 500 points away or $10K per contract. After no follow through from the selling on the last two Friday sell offs and Monday gap downs, I anticipate the market could go the other way now - higher. The market may repeat the type of intra-day pattern below and surge to new highs. If the market can't successfully go down, then it may reverse higher in this liquidity driven market.
Today was a sloppy session for many strategies. It is a market that is hard to short and wants to rally on sell programs with sharp moves. The type of moves that can trigger momentum shorts.
For tomorrow's session, we are still trading the Nasdaq strategies and Bitcoin strategies from our previous portfolio with the addition of 6 more strategies. Gold Wave was recently developed, went through a drawdown, ran to an equity peak and is in a drawdown now at a good entry point.
We are adding Gold Wave and Gold Flash 2020 along with 4 additional Nasdaq strategies for total of 26 strategies, 21 Nasdaq strategies, 3 Bitcoin strategies, and 2 Gold strategies. The additional Nasdaq strategies include SR CT Breakout, Mirror 2020, Tick Chop News, and Long ON NQ.
We discussed SR CT Breakout yesterday. Mirror 2020 and Tick Chop News are existing strategies.
Long ON NQ uses a 150 point stop loss and is one of the strongest patterns we have seen but recently went through a drawdown with the big gap downs the last two Mondays.
The hypothetical performance summary for this portfolio of 26 strategies is below. The most recent equity peak is January 23. January shows a positive month. The recent drawdown is rapid. We prefer rapid drawdowns and look for a bounce.
The relevant updates will be sent to subscription clients as soon as possible.
The hypothetical results for the Stock Index Portfolio 24 was -$2,535.00. We have recommended trading the Two System NQ Portfolio for now while we go through this choppy season and work on updates.
The hypothetical results for the Top 50 Select was -$8,772.50
The hypothetical results for the 50K Portfolio was -$2,560.00
The hypothetical results for the Two System Portfolio NQ = no trades today.
The hypothetical results for the Five System Portfolio NQ = no trades today.
The Portfolio 26 has been down 9 of the last 10 days since its last equity peak while the previous 10 trading days were up 8 out of 10 days with 39K hypothetical profits. The last Jobs Friday was January 10 with hypothetical gains of +11,005
The last 5 Fridays since January 1 for the Portfolio 26 hypothetical results have been:
January 3 = +10,885
January 10 = +11,005
January 17 = + 21,065
January 24 = -1,995
January 31 = -1,740
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