Live Trading System Signals on May 30, 2024

The amount of chop in the market has been pretty extreme since May 15. Whenever there is this much chop, there is typically a big move being disguised. Tomorrow is the PCE inflation economic report in the pre-market as well as the last day of the month. It is also a Friday trade, which has been one of our best days after such contentious price action. Often times when we have seen such difficult price action, there has been resolution on a Friday.

The One Million MNS 110 was down -1.55% today while the 250K Portfolio live results were -$3,100. The 250K Portfolio is down -3.5% on the month but holding 2% gains on the quarter.

The Stock Index Portfolio 18 was up +$1,020 on the day in hypothetical signals.

The amount of propping up to generate long trades, followed by stop running has been extremely persistent the last few days in the stock index futures. Silver and Crude Oil have had some difficult price action this month as well.

We are looking forward to tomorrow's trade to potentially find some resolution. The market is due for some stronger selling at this point. There is no guarantee we will get the much-needed correction and we could very well take advantage of a bullish move back to the highs.

The extreme liquidity keeps chopping up the downtrend as we saw today in the last 10 minutes with wild spiky price action. At 3:50, the Nasdaq futures made lows and then rallied 92 points in 5 minutes. Yesterday the Nasdaq was in an 80 point range for about 5 hours. It spiked 92 points off the lows and then reversed towards those lows again at 3:55 pm EST.

As the new session starts the Nasdaq futures are less than 20 points away from the lows made in the previous session.