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Trading System Signals on 01/11/2024

The 250K, 53 Strategy Portfolio was up +$550 in live trading today. CPI came in hotter than expected and the Nasdaq rallied at the open for the first 7 minutes after a gap up and then sold off 220 points in 30 minutes and off almost 300 points from its day session highs to the low of the day at 11:47 am EST. The low was in around 11:47 am EST at 16,753 (just above the 16750 support) in the Nasdaq futures. The stock indexes recovered in the afternoon but did not close at their highs. The initial response for CPI in the pre-market was a sell-off, that recovered right before the open to generate a gap up.

I thought we might see a distribution day but the dip buyers are too eager to buy every dip and 3 hours might as well be 3 days in this market environment. 

​The strategies navigated it pretty well. Momentum Reversal NQ got long near the lows and held until the close to capture 160 points in the Nasdaq for the trade of the day. Two Crude Oil strategies got long near the highs and were stopped out with slippage as well. 

​The Stock Index Portfolio 27 E-mini hypotheticals were up $1,362.50.

​The Stock Index Portfolio 27 Micro hypotheticals were up $133.00 with the same trades as the E-minis.

​One trading day left in the week before another holiday week next week. 17,165 is the 2023 highs in the Nasdaq futures and Monday is a holiday before another four-day trading week. I'm wondering if we will see a run at those 2023 highs before Fridays close and potentially a move towards 17,250 in the Nasdaq. 

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