May 5th, 2017 - S&P 500 e-Mini - Trading Activity
Big drop in oil over the last couple of days have weighed down the energy sector and put some downward pressure on the market.
Techs in Nasdaq have taken a bit of a breather as well with a number of stocks pulling back from their recent highs.
We had a good rally into the close yesterday afternoon and a higher close, which is encouraging for today.
Then the market dropped overnight to support @ yesterdays lows and is now recovering coming into the European open.
The market continues to rally into the open, testing yesterdays highs and setting us up for a long trade on the open.
We got a buy signal on the 10,000 tick chart about 5 minutes before the open. Took 2 Long @ 2389.50. Target on 1st contract @ 2390.50. 2nd contract target @ 2392.75.
The 8:30 bar also gave a buy signal with an open entry at 2390 so I pushed the target on the first contract up to 2391.50.
This target was hit, still long 1 contract.
The 2,000 tick chart pulled back, rallied into a lower high then gave a sell signal. Went short 3 contracts @ 2388.75. 1 to cover the long and 2 for recovery. Target set @ 2387.75.
Target hit, we are flat with $152.00 profit.
10,000 tick gives us a sell signal. Short 1 @2388.00. Target @ 2387.00
We can expect a retracement of the morning rally off yesterdays support.
Question is how far it will go.
The 2,000 tick rallied into a lower high then gave us a sell signal. Took 1 short @ 2387.25. Target set @ 2386.25.
We are now net 2 short.
2,000 tick makes a higher high. moved one contract up to break even and took it out.
Then the market tested the support level and moved up a bit so I moved the 2nd contract target up to to support and was taken out.
We are flat and up $173.00
The 30 min chart closed with a sell signal. Went short 1 @ 2387.00. Target @ 2386.00.
2,000 tick trying to make a lower low.
The 2,000 tick rallied to test the previous rally high, then powered lower hitting our target.
We are flat and up $220.00.
The 10,000 tick gave a sell signal just as we exited the previous trade. The 2,000 tick started to rally, made a lower high then gave us a sell signal. Short 1 @ 2385.75. Target @ 2384.75.
The 2,000 tick made a lower low then rallied to test the previous high then declined into a sell signal. Took 1 short @ 2387.00 making me net 2 short at an average price of 2386.375. Moved the target to 2385.50 on both contracts.
No follow through 2,000 tick declined then rallied off a higher low, broke through the last highs and gave a buy signal at the same time as the 10,000 tick chart. Took 9 contracts long @ 2388.00. 2 to cover the shorts and 7 for recovery. Target @ 2389.00.
The market is having trouble following through and appears to be going sideways so I dropped the target to a breakeven and cover the 7 open positions.
We are now flat and up $211.00.
The market moved higher out of this consolidation and the 10,000 tick gave a buy signal. Took 1 long @2388.75. Target @ 2390.00.
No follow through and the market moved lower.
Next signal on the 10,000 tick Short. Took 4 short @ 2386.00. 1 to cover and 3 to break even. Target @ 2385.00.
There is such low volatility in the market that nothing is following through.
The market did not follow through on the short trade.
The 2,000 tick rallied, pulled back, formed a higher low then gave us a buy signal. Took 17 long @ 2388.25. 3 to cover the shorts and 14 for recovery. Target set @ 2389.25.
We finally got some follow through on a trade.
Target hit, we are flat with $253.00 profit.
Working hard for this today.
The 13:00 30 min chart gives us a buy signal. Long 1 @ 2389.25. Target @ 2390.25.
Target hit, we are flat with $301.00 profit.
The 10,000 tick chart gives us a buy signal. Took 1 long @ 2389.25. Target @2390.25.
Target hit, we are flat with $348.00 profit.
I moved over to the Real Money account to manage the long trade there.
I would prefer not to hold it over the weekend if possible.
The market is struggling higher and the 2,000 tick gave a buy signal off a PB into a higher low so that is encouraging.
I pulled my target down to 2390.75 which is just below the day high.
Target was hit and I am out of this trade with a $200.00 profit.
I will call it a wrap for the day.
Below is the Trade Summary, Equity Curve and 2,000 tick chart for today's simulation trading.
You can see on the chart how right the range was for most of the day.
This is very difficult to trade in.
Techs in Nasdaq have taken a bit of a breather as well with a number of stocks pulling back from their recent highs.
We had a good rally into the close yesterday afternoon and a higher close, which is encouraging for today.
Then the market dropped overnight to support @ yesterdays lows and is now recovering coming into the European open.
The market continues to rally into the open, testing yesterdays highs and setting us up for a long trade on the open.
We got a buy signal on the 10,000 tick chart about 5 minutes before the open. Took 2 Long @ 2389.50. Target on 1st contract @ 2390.50. 2nd contract target @ 2392.75.
The 8:30 bar also gave a buy signal with an open entry at 2390 so I pushed the target on the first contract up to 2391.50.
This target was hit, still long 1 contract.
The 2,000 tick chart pulled back, rallied into a lower high then gave a sell signal. Went short 3 contracts @ 2388.75. 1 to cover the long and 2 for recovery. Target set @ 2387.75.
Target hit, we are flat with $152.00 profit.
10,000 tick gives us a sell signal. Short 1 @2388.00. Target @ 2387.00
We can expect a retracement of the morning rally off yesterdays support.
Question is how far it will go.
The 2,000 tick rallied into a lower high then gave us a sell signal. Took 1 short @ 2387.25. Target set @ 2386.25.
We are now net 2 short.
2,000 tick makes a higher high. moved one contract up to break even and took it out.
Then the market tested the support level and moved up a bit so I moved the 2nd contract target up to to support and was taken out.
We are flat and up $173.00
The 30 min chart closed with a sell signal. Went short 1 @ 2387.00. Target @ 2386.00.
2,000 tick trying to make a lower low.
The 2,000 tick rallied to test the previous rally high, then powered lower hitting our target.
We are flat and up $220.00.
The 10,000 tick gave a sell signal just as we exited the previous trade. The 2,000 tick started to rally, made a lower high then gave us a sell signal. Short 1 @ 2385.75. Target @ 2384.75.
The 2,000 tick made a lower low then rallied to test the previous high then declined into a sell signal. Took 1 short @ 2387.00 making me net 2 short at an average price of 2386.375. Moved the target to 2385.50 on both contracts.
No follow through 2,000 tick declined then rallied off a higher low, broke through the last highs and gave a buy signal at the same time as the 10,000 tick chart. Took 9 contracts long @ 2388.00. 2 to cover the shorts and 7 for recovery. Target @ 2389.00.
The market is having trouble following through and appears to be going sideways so I dropped the target to a breakeven and cover the 7 open positions.
We are now flat and up $211.00.
The market moved higher out of this consolidation and the 10,000 tick gave a buy signal. Took 1 long @2388.75. Target @ 2390.00.
No follow through and the market moved lower.
Next signal on the 10,000 tick Short. Took 4 short @ 2386.00. 1 to cover and 3 to break even. Target @ 2385.00.
There is such low volatility in the market that nothing is following through.
The market did not follow through on the short trade.
The 2,000 tick rallied, pulled back, formed a higher low then gave us a buy signal. Took 17 long @ 2388.25. 3 to cover the shorts and 14 for recovery. Target set @ 2389.25.
We finally got some follow through on a trade.
Target hit, we are flat with $253.00 profit.
Working hard for this today.
The 13:00 30 min chart gives us a buy signal. Long 1 @ 2389.25. Target @ 2390.25.
Target hit, we are flat with $301.00 profit.
The 10,000 tick chart gives us a buy signal. Took 1 long @ 2389.25. Target @2390.25.
Target hit, we are flat with $348.00 profit.
I moved over to the Real Money account to manage the long trade there.
I would prefer not to hold it over the weekend if possible.
The market is struggling higher and the 2,000 tick gave a buy signal off a PB into a higher low so that is encouraging.
I pulled my target down to 2390.75 which is just below the day high.
Target was hit and I am out of this trade with a $200.00 profit.
I will call it a wrap for the day.
Below is the Trade Summary, Equity Curve and 2,000 tick chart for today's simulation trading.
You can see on the chart how right the range was for most of the day.
This is very difficult to trade in.
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