The V-Reversal 2024 was the trade of the day, hitting profit targets on two long trades in a sloppy market.
The One Million MNS 105 was +0.65% on the day while the 250K Portfolio was up $1,350 in live trading to go profitable on the week.
The hypothetical Stock Index Portfolio 18 was +$4,960 on the day per E-mini and +$493 on the day per Micro for another nice bounce on the day with the highlight of the day in both portfolios being V-Reversal 2024.
There was a data gap for about 45 minutes on the CME markets right before the open which had me start a little later than normal so that we could verify the data for the day trade strategies. With NVDA earnings after the bell we exited trades a little early. The post market was orderly until 4:20 when NVDA released earnings. The price action has been sloppy since earning were released. It was the type of chop that we potentially anticipated starting at 4:00. Many of our day trade strategies hold positions until 4:14 pm EST and many times the markets are extremely wild starting at 4:00 pm EST on days when earnings are released.
The Nadaq moved over 300 points from the overnight highs to take out 20,500 intra-day by about 23 points before rallying. The prior two days the Nasdaq worked hard to support that level. Breaking that level down today, generated more dip buying. The market traded up to near the overnight highs and then in the after hours traded down to take out 20,600 before rallying up near 20,750.
The strategies and market seem to be rotating to more favorable price action even if it is sloppy. The market may now focus on an end of year melt up since there doesn't seem anything that can discourage the bulls from dip buying.
I agree nice bounce on the SI 18 for the past 2 days! Sticking with it starting to pay off! Momentum reversal, AT 2022 doing well. Viper did ok around election days and now struggling again.