(See Above) Monday ended up being a go-nowhere-day for the market. We had one good sell attempt at the open which the system alerted us to for 5 points of traction. After that the momentum dried up and the market retraced slowly back into the congestion morning zone.
(See Above) Tuesday the bias was to the upside and the system alerted us long twice early on. The system called the direction and entries correctly but we kept getting knocked out by volatility around the entry points. After the 2nd alert the market ended up eventually floating 12+ points to the upside but we could only manage to stay in for 2. The momentum dried up and the volume was really low so the system failed to issued additional alerts.
(See Above) Another gap and go day. The momentum was light and price movement slow but the system attempted to get us long 3 times with limited follow through.
(See Above) If you take a look at SPY daily chart for Thursday you will see we ended up with a narrow range Doji bar for the day. The range remained narrow for the entire session making it difficult for us to catch any decent traction. The first entry resulted in a full stop-out and the system issued failure alerts on the remaining two alerts. In the end it was a losing day without much to work with.
(See Above) Friday we had another narrow range day with low momentum. We got 2 system short alerts early on both of which resulted in limited follow-through. We purposely do not stick around for more than 2 hours on a Friday to prevent giving it all back.
Weekly Summary – Performance Stats For Week Of January 23rd, 2017
(See Above) Other than Tuesday which printed as a long range day to the upside, (although still difficult to trade that day) the overall market was mostly range-bound for the week with limited intra-day traction to be had. We had a losing day on Thursday and a low traction week overall. In the end the system only managed about 2 times positive traction vs. negative traction. (We like to see at least 3.0 times positive traction)