The Nasdaq is down 7 days in a row. It was a slow choppy sell off today with a lot of prop and chop with the full effects of stop running mode with losses on the long and short side. The liquidity continues to hold up this market and buy the dip, fighting the Fed as well as the seasonality of the stock market. We are due for some more sharp selling but since the Nasdaq has been down 7 days in a row, we could see a sharp rally before we see sharp selling.
The Portfolios gave back some of Friday's gains to take us back to breakeven on the month in the 3rd trading day of the month and the first trading day of the week. This past Friday, we were at equity peaks. The 200K Portfolio was down -$3,750 and the 50K Portfolio was down -$937.50.
The stock market, bonds, and bitcoin all sold off today. Stocks bounced back while Bonds and Bitcoin did not bounce back. Stocks, Bonds, and Crypto have been very correlated recently but there is not as much propping in Bitcoin and T-Bond futures as there is in the stock market.