(See Above) Monday the day ended with a narrow range “Doji” bar where the market closes at the same level as it opened so we had limited traction to work with overall. We had a lazy push to the upside after the open and the system gave us 2 long alerts with limit traction. Later the sellers attempted to drive the market lower and the system caught a short move of 5 points of traction.
(See Above) Tuesday we ended up with a classic V-Reversal day. The market sold down hard from the open and the system issued 5 short signals one of which gave us 10 full points of positive traction. About 3 hours into the session the market put in a bottom and started a strong retrace fueled by short covering and heavy buying pressure. The system issued a long into this up move for 5 points of traction. We got lots of trading action and other than the 2nd trade that gave us limited traction the remainder of the price moves had nice follow-through.
(See Above) Wednesday the market closed lower for the day but intra-day the session was a chop fest with low commitment. The overall bias was to the downside and the system ketp us short but with limited follow-through after the alerts.
(See Above) Thursday the market attempted to move to the upside after the open and the system alerted us to 2 longs with limit follow-through. Later the sellers grabbed control and attempted to sell the market down hard. The system caught 2 shorts with decent follow-through.
Friday April 14, 2017 – Market Holiday Good Friday – No Trading
Weekly Summary – Performance Stats For Week Of April 10th, 2017
(See Above) We experienced another high traction week overall but again, like the previous week it wasn’t evenly distributed. You can see from the chart above that our hot action day was Tuesday with 6 trade alerts issued and 29+ total points of traction. Friday the market was closed for Good Friday Holiday. In the end the system managed 4.8 times positive traction vs. negative traction which gave us a decent edge to work with. (We like to see at least 3.0 times positive traction) One thing to mention is that although we did get good overall follow-through on the trade alerts the market was extra jumpy and spiky around some of our entry points making the entries challenging at times and much of the time this week the market seemed to move in slow motion so required a bit more patience than normal.