We end the week with V-Reversal as one of the top trading systems. While it was down today, it had some nice gains on the week with 6 winners and 8 losers, rebounding some from a recent drawdown. Contact Us for the latest live results. You can trade it on your side or have it traded for you.
The One Million MNS 105 was down -0.88% while the 250K was down -$1,750. We were up about $875 on the week coming into today and end the week down about -$875 or -0.35% on the week and are down about -1.2% on the month in the 250K Portfolio.
The Stock Index Portfolio 18 hypothetical results were -$3,285 per E-mini and -$330.50 per Micro after three positive days in a row.
We had many long trades that did not get much follow through towards the highs today in a market that seems to want to be in a melt up bull market mode while also generating massive noisy stop running. The melt up bull remains suspect with all the noise intra-day as melt up markets are usually less noisy. The real trends seem to find ways to evade normal trading periods as the price action from 4:30 pm EST to the 5:00 pm EST close has finally moved higher (and smoothly) to the highs of the day in the Nasdaq after consistently resisting any rallies all day.
The stock indexes and Nasdaq overall had some of the noisiest range bound price action we have seen in awhile, especially the last couple of days with intra-day price action that looks more like an FOMC Day. The market is fighting the down trend that started on November 14 and 15, last Thursday and Friday, by spending the entire week propping and chopping the market up with hyperventilating dip buying price action and working to support 20,500. It has become tightly wound to the upside.
Seasonally the market should move higher but some of the strong selling this week is interesting. We have to defend against crowd thinking. 2022 wasn't that long ago when stocks were down on the year. Sometimes the grinch steals Christmas and that end of year rally that Wall Street bulls feel entitled to each year. We prefer to remain balanced and put ourselves in the position to take advantage of either long or short trade opportunities.
We anticipated some resolution for Friday's trade and discussed the possibility of a big move but ended up getting more congestion. There are three full trading days left in the month of November since next week is Thanksgiving and the stock market is closed on Thursday and closes early on Friday. We should certainly get some good moves between now and the end of the year. Favorable price action isn't always a trend since we do have countertrend and mean reversion trading systems. It is the sloppy markets with noise can be challenging.
Sometimes during the Thanksgiving holiday there can be some melt up price action in the stock indexes. We have not had and net very favorable price action for the group of portfolio trading systems for almost two months as we seem to remain stuck in the post-election trade, which has generated some different intra-day price patterns. The election rally seems to have pulled forward some of the end of year rally. We are due for some more favorable price action and will work to capture it to close out the month next week and work to go positive on the month.
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