Live Trading System Signals on August 2, 2024

The Nasdaq futures are shown below for the day session only. It looked and felt like a slow choppy day and the selling was very controlled considering the size of the move and as a continuation of yesterday's reversal. The last 3 hours of the day session only had a range of 142 points in the Nasdaq 100 futures with a total move from yesterday's close of -468.75. The point value would indicate trend strategies would be favorable while the chart indicates counter trend strategies would be more favorable.

It was a choppy sell off with most of the move happening overnight. The inflection point to enter these wide-ranging trends has been in the early evenings when the new session starts. Once the day session starts, the trend continues but in a very choppy pattern. VSD Long Short signaled a nice overnight short yesterday evening, very early in the session. V-Reversals had a more challenging second half of the week with no bounce from dip buyers to support a V-Reversal long trade.

The One Million MNS 130 was down -0.43% in live trade with the 250K Portfolio down -$850 in live trading as well. The hypothetical results for the Stock Index Portfolio 18 was +$280 for the E-minis and +$28.50 per Micro, taking the same signals.

The VIX spiked to nearly 30 but then closed in the 23 handle. It was up 25% on the day. The Nasdaq 100 was down -2.38%, the S&P was down -1.84%, and the Nasdaq Composite was down -2.43%. The Russell 2000 was down about -3.5% today. All indexes were down. The Russell 2000 has given back a large percentage of its gains (nearly 80%) since July 10th in what was supposed to be a small cap rotation.

The Nasdaq 100 has given back about half of its gains on the year.

Yesterday on CNBC, well known energy trader Mark Fisher said that the next few weeks are the most bullish seasonal patterns for energies. Crude Oil tanked today nearly 3%. Maybe the bullish trend will start next week.