The short signals led the way today. The VIX hit the 19 handle today and the Nasdaq had 500 point range. The moves were short and brief. The gap up and market internals tilted the trend higher. As the market rolled over, there were pauses with price action that resemble the bounces and V-Reversals that we have seen consistently since June 2022. There was no bounce today and the Nasdaq futures were down -1.67%, the S&P futures were down -1.33% while commodity prices remain stubbornly higher with Coffee, Gold, and Silver resuming their trend.
The One Million MNS was down -0.63%. The 250K live portfolio was down -$1325 while the Stock Index Portfolio 18 was down -$355. We had some nice shorts that led the way today including Viper NQ and VSD NQ ON as well as VSD Mean Reversion. We also had many strategies trying to buy what looked like a potential reversal market. The market didn't move much after 13:45 EST.
Some of the trades today were ghosted in the latest Tradestation platform update. This was in Gold, Silver, Crude Oil, and Copper on Friday. We still beat the hypotheticals slightly for live automation. We have been exiting overnight and over the weekend trades at the end of the session and then working a better entry in the new session.
It didn't feel like a 19 VIX and 500 point Nasdaq range.
The Nasdaq 100 futures are still holding up about 3.4% on the year while Cocoa has tripled in price. Interest rates were up today as the Bonds continue to sell off.