Live Trading System Signals on 08/29/2024 and Drawdown Entry Alert

The highlight of the day was the V-Reversal short trade, hitting its profit target of 100 points within 15 minutes.

The live trading systems signals for the One Million MNS 128 was -$162 with the live 250K Portfolio down -$32 on the day. I typically round down until I see the broker statement so it could be closer to 0 or slightly up on the day.

The hypothetical trading system signals on the Stock Index Portfolio 18 were -$2,855 per E-mini and -$284.50 per Micro. The Stock Index Portfolio 18 was in a -$7.2K drawdown per E-mini coming into today's session. We recommend waiting for a 10-12K drawdown to start. This is a drawdown entry alert to start trading the Stock Index Portfolio 18 after a losing streak.

The market was sloppy today post NVDA and the Nasdaq rolled over 350 points. In the One Million MNS, we were net long and gave back some decent gains to go net short. As has often been the case the last few years with excess liquidity, the market is propped up with no follow through selling. Historically, these types of market patterns have seen more follow through. When the market rallies and then rolls over and then chops, it's always pretty good to end the day around breakeven.

The VIX was back down in the 15 handle.

Tomorrow is the Friday before the Labor Day holiday. Sometimes the light volume will generate bullish trends. The S&P is slightly up on the month while the Nasdaq 100 and Nasdaq Composite are closer to breakeven on the month. Tomorrow is also the last trading day of the month with Personal Income at 8:30 am EST, Chicago PMI at 9:45 am EST, and Consumer Sentiment at 10:00 am EST.

I am in the mindset that the market should sell off more, especially with the seasonality, but the liquidity keeps the market bid higher. It's interesting to note that the election is about two months away, and this always presents some perceived uncertainty and market chop. The market started the current bullish trend, 10 months ago, at the end of October. It was very choppy before the trend that started at the end of October. We are in tune with symmetry and seasonality and anticipate the liquidity wants to drive the market higher once again after the chop. The deviation between where we are now and the election could be pretty big and generate some good trade-able price action, starting after Labor Day.

We continue to trade long and short strategies taking trend, counter trend, and mean reversion trades.