(See Above) Monday started off with a lazy up move which fizzled and then the market went into a gradual drift lower down to the 2141.00 level where it caught support and bounced slightly into the close. The system caught decent traction on all 3 trades. It was a low momentum – low traction day for the most part.
(See Above) Tuesday the sellers attempted to run the market lower right out of the gate but quickly fizzled and we saw price retrace back to the upside for about 30 minutes. After brief consolidation the sellers grabbed control again for the 2nd wave down. The system alerted us short at 2141.50 for a 5 point move lower. A short time later the system alerted us to a 2nd short for a trend-continuation move lower but the down momentum dried up and the market reversed on us with a heavy short squeeze leading to a full stop out.
(See Above) Wednesday the market feigned a down move that the system got us into which quickly fizzled and reversed hard on us leading to a scratched trade. Later the market shot up parabolic on heavy short squeeze action and the system got us into at Counter Trend Short Limit order up at 2133.75. The sellers took control and attempted to sell the market back but we only got +1.5 points of traction out of the move just enough for our 2 scalp targets of +0.75 and +1.75. A short time later after a period of consolidation the market exploded higher on a random news event and the system attempted to get us into a pullback entry for trend continuation but that failed and the market dropped lower leading to a full stop out. Wednesday ended up being a tricky day to get any good traction out of the market.
(See Above) Thursday the price started the session stuck in a consolidation zone but later the sellers grabbed control and broke the market down hard. The system alerted us short at 2134.25 for a nice +7.5 points of follow-through. Two more short alerts fizzled without much positive traction.
(See Above) Friday saw the session started off with a couple price swings that quickly reverted back to equilibrium. Then about an hour in the System alerted us to a long at 2146.50 that led to a full 5.25 points of positive follow-through. A later short trade fizzled on us and caused us to scratch. We close up shop on Friday’s within the first 2-3 hours of the session.
Weekly Summary – Performance Stats For Week Of October 24th, 2016
(See Above) A low momentum week for the most part. The general market was unable to make either a higher high or lower low than 2 weeks ago so we are basically stuck in a range. It was another week that required a lot of patience as well as some fancy footwork on some of the trade management as once again, just like the previous week, follow-through on many trades was slow and tedious. The system alerts averaged 3.8 times more positive traction for the week.