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Trading System Signals on 11/21/2023


We are waiting for a drawdown to start live trading after yesterday's equity peaks in the new portfolio. The hypotheticals for the Portfolio 48 were -$1,472.50 while the hypotheticals for the Stock Index Portfolio Eminis were -$102.50. 


The market is closed on Thursday and only open half a day on Friday. The DontTradeOnHoliday functions will kick in on the strategies and signals won't be generated by the strategies with the Thanksgiving holiday. The next update will be on Monday.


It was a flat trading day for the most part as the market traded in a very narrow holiday range with the VIX settling at 13.35. FOMC minutes were released today and NVDA earnings after the bell.


The Santa Claus rally typically starts today but after the runup this month, the Santa Claus rally could be over. The sentiment is extremely tilted towards the bulls. There seems to be a unanimous consensus that the market will rally to the end of the year and that it is a foregone conclusion. Billionaire Jim Chanos has closed his hedge fund that specializes in short selling while Michael Burry closed out some of his short positions. When sentiment is too far on one side it can often shift.


Is there anyone left to buy? There are trillions of dollars on the sidelines that allocate on a regular basis through advisors or robo advisors for long term equity investing. Its difficult to say how active they will be chasing performance after this runup.

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