(See Above) Monday we had a mini “Pump and Dump” move right after the open which the system got us into for a clean 6+ point follow-through. The market then went completely limp and fizzled into aimless drift most of the remainder of the session in range-bound chop.
Read More In This: Informative Article About Market Day Types
(See Above) Tuesday we ended up with another narrow range day with the general market stuck just under all time high resistance levels. The sellers feigned a breakdown early on which the system alerted us to but there ended up being no serious follow-through and we got caught up in a short squeeze for a full stop out. The market traded in a choppy-sloppy congestion zone for the next 2 hours before the longs were able to take control and attempted a breakout which the system alerted us to for a shallow 3 point follow-through.
(See Above) Wednesday we had a strong break-out move to the upside as the market finally moved up into newer highs – but it wasn’t a cake-walk to trade. It was touch and go for the first 2 trades as the momentum was extremely light and the trades took forever to follow through to target. Then the market made a surprise parabolic pop which the system alerted a short play but we got caught up in a short-squeeze at all time highs for a full stop out. Later the system alerted us for another trend continuation long but with limited follow-through. Wednesday’s long range up day was fueled by lots of short squeeze action at the all time highs as well as the Wall Street programmatic buy systems kicking into high gear to ride (and drive) the freak melt-up action we experienced.
(See Above) Thursday the market gave us minimal follow-through after the Wednesday long range day up. As it was contract roll-over day we ended up with plenty of choppy moves and little follow through to start. The buyers kept trying to break the market out long at the 41-42 level without success and kept fizzling with price sinking back to equlibrium levels. Finally 2 hours into the session they were able to get control and run market for some decent follow-through.
System Offline For Friday Contract Rollover
Weekly Summary – Performance Stats For Week Of December 5th, 2016
(See Above) Other than the long range accumulation day that ignited on Wednesday the rest of the week was non-trending, range bound price movement – very difficult to work with. We ended up with 4 full stop-outs this week (many weeks we have none) so it was a much tougher week to trade. In the end the system only managed 2.5 times positive traction vs. negative traction. (We like to see at least 3.0 times positive traction)