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Trading System Signals on 01/02/2024

The live trading system signals to start the new year for the 250K Portfolio - Portfolio 53 were -$725. There were not many trades today. The stock indexes were net profitable and up about+$700 with only two trades on the E-mini S&P and one trade on the Nasdaq. The end of day reversal rally helped move the S&P above its day session open. The S&P trades were down today while the Nasdaq was up on the day.

Most of the trend was overnight with a big sell off in the pre-market based on the downgrade of AAPL. While the point values and 24 hour charts look trendy, intra-day there was more wide-ranging back and forth price action that was net profitable for us in the stock indexes.

Gold was down on the day -$525 with one short trade while Crude Oil was down on the day -$900 on two short trades. 

Gold and Crude Oil losses were greater than the gains we had in stock indexes.

The perma bulls have wanted a pullback in the market. They are getting everything they want lately so I anticipate this small pullback is more of the stealth bull market working to give hope to the bears before moving higher again.

The Stock Index Portfolio 27 EMINI hypothetical signals were up +$1,337.50 with only two trades, one on the S&P, one on the Nasdaq.

The Stock Index Portfolio 27 MICRO hypothetical signals were up +$135.75 with the same signals as the Eminis.

The .D charts are showing the 24 hour session instead of the day session only (technical error in Tradestation). We have removed .D charts from our latest portfolios since they tend to have errors at times around holidays. We use the 24 hour symbol with the US STOCK Custom Session instead.

The first image below is the S&P day session. The red vertical lines shows the start of the day session. The second image is the Nasdaq day session. The Nasdaq was slightly more trendy, giving us our best gain of the day on the short side. The VIX closed at 13.20. While the market is technically overbought and "ought" to pullback, the end of day rally and low VIX makes this looks more like a one day head fake before the market tries to resume its quest for all time highs in the New Year. We maintain our long/short day trade algorithmic approach.

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