Monday February 20, 2017 – Presidents Day – No Trading
(See Above) On Tuesday we had a good sized gap up in the equity market at the open. Early morning buyers latched on and ran the market higher right out of the gate for a full 7+ points of positive traction before the market faded back into congestion and our no trade zone. After spending the next few hours in chop the buyers attempted to run the ball a 2nd time breaking us out above 61. The system alerted us to the move for an additional 3+ points of traction.
(See Above) Wednesday the market was mostly stuck in a choppy range with low commitment most of the session. The buyers attempted to break the market out about 2 hours in but couldn’t really get the party started. The system alerted us to a long trade which only experienced about 2 points of traction before the market fizzed back in congestion.
(See Above) Thursday the market gapped higher at the open but instead of a “Gap and Go” day the market started to sell down. Later the market found a strong support level at the 58-60 zone but sellers were eventually able to work through it and the system alerted us to a short at 58 for a nice clean 5 point drop.
(See Above) Friday the market opened lower with a gap down but quickly retraced back into the heavy congestion level of Thursday where it remained trapped most of the remainder of the session We got one long alert when the buyers tried to move off of the 58 level which ended up limited follow-through of less than 2 points. We normally close up shop 2 hours into the session on Fridays unless there is a rip-roaring trend in progress.
Weekly Summary – Performance Stats For Week Of February 20th, 2017
(See Above) It was another light holiday week with lots of low momentum price movement and not a great number of good opportunities to work with. The system normally averages 3-5 trade alerts a day and you can see ended up with just over 1 trade alert per day. In the end the system managed 5.0 times positive traction vs. negative traction. (We like to see at least 3.0 times positive traction)