(See Above) Monday the market opened above support levels and spent the first hour in shallow up and down waves stuck in congestion. Shortly thereafter the sellers got control and were able to run the market lower about 10 points. The system alerted us short at 2167.75 to catch 6.50 points of positive traction to the downside. The system caught 2 more selling waves with limited follow-through. It was extremely low momentum day overall but we managed to catch some decent point traction for a Monday.
(See Above) Tuesday the market spent the bulk of the session in shallow up/down waves above support only breaking out into some light trending action 2 hours before the close. The system attempted to keep us long all day and we caught 4 trades with decent follow-through.
(See Above) Wednesday the market remained range-bound the entire session the only excitement coming in a few wild up and down swings early on before we disintegrated into mostly aimless chop. The best traction of the day came from a Counter Momentum trade that played a reversion to the mean.
(See Above) Market opened above several layers of strong support and the general bias remained to the upside throughout the session but it was hardly a smooth trend. The system was able to get us into 2 clean long entries with decent follow-though.
(See Above) Friday the market feigned a strong move right out of the gate on high volume and the system alerted us long but after a brief breakout attempt by the buyers the market broke down and fizzled. Taking this trade led to a full stop out. The market then drifted lower to spend the remainder of the session in range bound chop. We go offline after the first two hours to do our Friday Morning Round-Table group meeting/training.
Weekly Summary – Performance Stats For Week Of November 14th, 2016
(See Above) Last week with the election volatily that gave us massive trending action was a tough act to follow. This week was a light up move for the general market overall but the intra-day sessions ended up being mostly range bound and choppy with a few short-lived trending moves in the mix. In the end the system alerts averaged 4.3 times more positive traction vs. negative traction.