Gap Continuation E-mini Nasdaq and Gold were flat today. The portfolios were down today as the stock indexes were propped up from the open and remained above the opening range lows of the day. The Nasdaq futures were down -0.74% on the day while the S&P futures were down -1.03%, with the net move in the overnight session. It is possible that we could see a sell off before the end of the month.
The sell off that started in the overnight session was pre-empted by the day session liquidity, propping the stock indexes up. After the cash closed the downtrend from the overnight session continued as the stock indexes made and closed near the session lows. Salesforce earnings came out in the after-hours and NVDA went down for the day in the after-hours session.
The One Million MNS 110 was down -1.1% while the 250K Portfolio was down -$2,175 in live trading. The hypothetical results on the Stock Index Portfolio 18 was -$1,047.50. When prices are propped up, long signals can be generated instead of short signals.
We have been in an extended period of chop during the second half of the month. The end of month lines up with a Thursday and Friday trade. Thursday's and Friday's have been some of our top trading days. We are looking for a bounce in the equity to go positive as we go into the end of the month. The 250K Portfolio live results are down -2.3% on the month, but up +3.2% on the quarter.
The VIX moved up to the 14 handle and closed on the highs after closing in the 12 handle yesterday.
I believe the market could take some profits as we go into the end of the month and generate a nice pullback and some short signals the next couple of days. PCE is an economic report that measures inflation that will be released pre-market on Friday. This economic report could be the catalyst for a big move in either direction on the last day of the month. We are prepared to take long or short trades into the end of the month.
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