(See Above) We had a light down trend after a gap down from Friday’s sell-off day in the general market. The market opened lower and traded on weakness throughout most of the session. The system got us in on a couple of the break-down attempts the middle being the best one for a 5 point runner after the signal went out.
(See Above) Tuesday the market feigned lower at the open, looking like it wanted to continue the down move of the previous 2 days. The system caught the first big down move for us. However a short time later the market bounced and reversed and went into “back-fill” mode with heavy short covering driving the retracement. The system got us into a 2nd nice short position on a big pullback.
(See Above) The market did almost the same thing today as Tuesday. Feigned lower and then reversed and spent the day in retrace mode moving to the upside. Today’s trading was mixed. First trade of the day was a full stop out while the middle trade caught us a 6 point runner. The 3rd trade waffled around and ended up getting scratched with a small loss.
(See Above) The market sold off shortly after the open and the system got us into a short to catch a 5 point down wave.
(See Above) The longs tried to run the market hard right out of the gate but fizzled big time. The system alerted us to the bounce but we got limited traction out of the move only being able to capture the 2 scalp targets of +0.75 and +1.25. We then went into our Live Round-Table Group Meeting/Training that we do each Friday morning for an hour.
Weekly Summary – Performance Stats For Week Of September 26th, 2016
(See Above) The market spent the week clanging around in a range reversing direction a lot on the daily timeframe. We were able to get exposed to some decent traction for the most part. The good news is we are past the horrible doldrums that we experienced through August.