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Trading System Signals on May 8, 2024

The hypothetical trading system signals were -0.5% (or -$5K) today on the One Million MNS 110. We are waiting for a -2.5-3.0% drawdown to start. The hypothetical drawdown is currently at -1.5% while the max historical drawdown is -5.8%. We are looking forward to going live on the next drawdown entry alert.

The hypothetical trading system signals for the Stock Index Portfolio 18 was -$2,620 with only two strategies generating trading system signals today. The hypothetical drawdown is about -8K. We recommend a 15K drawdown to start since the max historical drawdown is about 30K.

The selling in the stock indexes was pretty steady overnight from the European open around 2:30 am. The market spent the day with a strong rebound and gap fill price action, to take out the session highs before a Fibonacci pullback in the Nasdaq and a sideways market into the end of the day.

Crude Oil and Gold had some profitable trades while Silver, Natural Gas and Copper had some net losing signals on the day. Cobra Crude 2024 called a long trade for a $1.30 move in the June Crude Oil (CLM24).

Tomorrow is the only 7:30 am CST economic report of the week as the market will wait for jobless claims.

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