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Live Trading System Signals on July 11, 2022 - Weird Daily Range

The price action was really unusual today. The Nasdaq sold off sharply with a 162 point range in the first 15 minutes. After the first 15 minutes of trade, the entire range for the rest of the day was less than 100 points. Price action in the S&P was similar, where the range of the first 15 minutes was greater the range of the rest of the day.

This is similar to our analysis comparing the day session range to the overnight range.

The bottom line is, we in a market environment lately, where for most of the day session, there is no real price movement since Memorial Day. For the most part, we are seeing the moves happen overnight and the first 15 minutes. Then the day is over. A summer of chop so far.

We are coming into earnings season as well as CPI on Wednesday morning.

We have seen prop up price action during this entire bear market but the prop up usually takes place after 11 am EST. Today, the prop up came 22 minutes into the day session.

The Federal Reserve's oversized balance sheet continues to remain oversized. The Federal Reserve has not followed through with Quantitative Tightening yet.

We started the current portfolio for Q3 last Wednesday and we are up on the month even after today's losses. Today we were down -$412.50 on the 50K Portfolio and - $1,650 on the 200K Portfolio.

We continue to keep a tight reign on this setup and could pause if we don't get better price action with some gains.

The Euro and US Dollar near parity.

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