Live Trading System Signals on 09/09/2024

The bulls like to work in the overnight session to get a trend started. The overnight trend higher in the stock indexes was smooth and continuous. The day session was quite different. The price action was very choppy. The Nasdaq counter trend strategies such as V-Reversal NQ, Tick Chop News NQ, and Tick Chop II News NQ did very well. The V-Reversal 2024 COMB 24 hit two short trades with 100 point profit targets. The constant runups and pullbacks made it difficult on a longer list of strategies though.

The live trading results for the One Million MNS 130 was -1.3% today while the 250K Portfolio results were -$2.6K on the day. We are down about -1.3% on the month in the 250K Portfolio in live results.

The last two days, the price action has been very challenging. The drawdown entry alert remains as the One Million MNS 128 is in about a 44K out of a 52K hypothetical drawdown. This is a good place to start or add contracts as we work for a bounce. This is our fourth losing day in a row and a frequent drawdown level. We like to start on losing streaks and we effectively started this cycle with live trading when the portfolio was in about a 30K drawdown so that our risk to worse case drawdown is -2.2%. We will give it some room to bounce here as the cycle is favorable. The average time under water for a drawdown is 13.47 days and this is our 13th trading day since the last equity peak.

The hypothetical results for the Stock Index Portfolio 18 was -$1,910 per E-mini and -$191 per Micro.

This down trend has been very choppy with reckless intra-day price action.

Over the weekend, I noticed Dollar Tree stock was right back at pandemic lows. There is no one stock or indicator that gives a complete or perfect signal on the market direction or economy, but I thought it was an interesting observation.