The stock indexes started out very weak to start the month on a holiday shortened week, posting some larger than normal pullbacks, even for a seasonally weak September, with the S&P down -5.89%, Nasdaq 100 down -8.49%, and Nasdaq Composite was down -5.78%.
The trading systems had a strong start to the week with nice trades on Tuesday, after the Monday Labor Day holiday, but the trading Wednesday through Friday become increasingly choppy and challenging with more slippage that we have seen in a while, with three losing days in a row in the larger One Million MNS 128.
The live weekly results for the One Million MNS 128 are approximately -0.288% and -$575 (or -0.23%) on the week for the 250K Portfolio.
The live trades for the day on the One Million MNS 128, 128 strategy portfolio was -1.83% while the live results for the 250K Portfolio was -$3,650 on the day.
The hypothetical results for the Stock Index Portfolio 18 hit another equity peak today. This is an 18-strategy portfolio that generated some efficient signals this week after a drawdown entry alert last week. The smaller selection of this portfolio was more efficient in its trading this week. The hypothetical results for today's trade for the Stock Index Portfolio 18 was +$2,285 per E-mini and +$227 per Micro taking the same trades.
The amount of slippage this week was greater than normal and could be indicative of more downside. Fed Chair Waller's mid-day comments didn't add any value to the economy or the markets, but only generated a hyper ventilating dip buying rally. The market continues to hover over the Fed moving towards more easy money monetary policy.
The constant propping and popping continues as the Jobs Report pushed the futures towards the session highs before rolling over once again. After the early morning sell-off, the market paused and bounced around on the lows before rolling over into the close.
It will be interesting to see if the August 5 lows hold. Last month, the strategy signals were strong from the 7th through the 20th. We will see if that monthly pattern repeats as this is a good entry point to add to existing positions in the One Million MNS 128 or to start based on the drawdown curve.
Market sentiment seems mixed and the bulls appear surprisingly more insecure this week.
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