Interesting data point: Since 1928, the S&P has averaged a 10% correction every 346 days. We have not had one this year. The Nasdaq 100 surge with a range of about 95 points in the first 5 minutes of the day session to start December trade. Half of the gain in the Nasdaq 100 today was in a gap up and during the first five minutes of the day session. The second half of the gains took the remainder of the day session and were choppier. There was an upside bias in the Nasdaq 100 future but with negative market internals as the Russell and Dow took a turn for a down day while the S&P 500 was up slightly.
It was a Gap Continuation type of day, an old pattern that we have not seen as much based on the mean reversion between the day and night session that we have been discussing in some of our recent posts. Gap Continuation 2020 was profitable on the day. Getting an earlier start on the Gap Continuation would have been ideal.
We didn't get many signals with the mixed environment but the One Million MNS 99 was positive on the day +0.2375% with the 250K Portfolio up +$475 to start the month on a positive note.
The Top 50 Select, will now be tracked. The hypothetical results for the Top 50 Select were -1042.50 with very few signals.
The Stock Index Portfolio 18 hypothetical results were -$195 per E-mini on two trades and -$18 on the Micro, also only two trades in V-Reversal COMB 24 and Gap Continuation 2020 E-mini Nasdaq.
Tomorrow we will start tracking the 50K Portfolio as well.
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