(See Above) It was a light – dull grind most of the session. The system gave us some decently timed entries but the market was so dead we got poor follow-through. At least the trades are getting us to our 3-tick delta targets. This is the way the market has been starting off lately. Big push right at the open and then fizzle and poor follow through. If you take a look at your SPY daily chart you will see that we are getting an inside day within Friday’s long range day. We can expect muted behavior as long as we are within that range.
(See Above) We got sucked into a false move right out of the gate for a full stop-out as the buyers tried to run the market higher but failed. Later the market went into a light downtrend and the system got us Short on 2 occasions with light follow-through. Market spent most of the remainder of the session in aimless drift with nobody in control.
(See Above) Market went into a light down move. System caught a decent down move with a heavy selling wave. The momentum dropped and the market went into congestion later.
(See Above) We had a decent sell-off erupt fairly quickly after the open leading to two forcefull down waves both of which the system caught and got us into short for 4+ point macro moves.
No Trading Friday 9-2 Group Meeting before 3 day Labor Day Weekend.
Weekly Summary – Performance Stats For Week Of August 29, 2016
(See Above) We are still thick of the summer doldrums and the general market (S&P 500) remains trapped in a tight 30 day range. We took Friday off going into the 3-day Labor Day weekend and Monday the markets are closed. Although we experienced another extremely low traction week with tricky trading at times, there is a sense that the momentum and traction will begin to perk up after the labor day holiday and into the middle of September.