Live Trading System Signals on 11/13/2024

The market did what we thought it might do as we mentioned in yesterday's daily report. There was a gap down continuation followed by a V-Reversal. However, the gap down was very small with a rally on the CPI in the pre-market. This compressed the trend and price action today. The Nasdaq 100 has four noticeable dips in the last three days that have held up so far. In general the price action is bullish and the market seems to be planning its next rally.

The One Million MNS 105 was up +.05% on the day while the 250K Portfolio was up about +$100.

The Stock Index Portfolio 18 hypothetical results were +$665 per E-mini and +$9 per Micro. The Viper NQ on the Micro had one less trade and was +$115 versus +$1,775 per E-mini with 3 trades. This is the reason the Micro results are less than 1/10th of the E-mini. We see this sometimes based on data differences. Sometimes the Micros have a better trade and sometimes the E-mini have a better trade.

The one conclusion that we continue to see is how much the stock market rallies in 2024 when day trade margins are not in effect. This year over 100% of the net gain has been at night and when day trade margins were removed during the election and FOMC week, the market rallied again. We have not counted holidays or FOMC Days. I imagine those days would extend the gains even more. The idea that the market is making all of its net gains outside of the most active trading sessions continues to be interesting.

This week with day trade margins in full effect during the day session, we see side ways price action. The market keeps trying to pullback but is met by anxious dip buyers. The ranges are relatively narrow and the stock indexes continue to have frequent reversals in a narrow range.

Tomorrow Jay Powell speaks at 3:00 pm so the markets could actually generate a nice trend between now and Friday. We get Jobless claims and PPI final at 8:30 am EST tomorrow as well.

Bitcoin and the Russell 2000 rolled over pretty hard this afternoon as the Russell 2000 took out the session lows while Bitcoin is down -1% on the day after a big runup. These fluid pullbacks are normal in a strong uptrend.