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Below is a time-delayed excerpt from our live updates for members.
Updates 2:00 PM EST - Friday 9/25/20
Friday's trade results and positioning for Monday
The current market condition is: bearish headwinds for $SPX $NDX IWM still in effect. But the headwinds have eased up today. $SPX $NDX IWM have bounced as a result.
In the Signal Trades we went long today with TQQQ and TNA. This was based on our assessment pre-market at 9:05 AM.
We tightened the sell limit prices for both positions ahead of the weekend. TNA has already gotten stopped out for a small gain. We are waiting to collect our profit with TQQQ.
We don't want to hold positions long or short over the weekend. This is a very choppy market. $SPX $NDX IWM are oversold and are attempting to bounce. But the bounce won't be a smooth and easy ride. And it may be a short bounce. Therefore the reward:risk ratio is not favorable for holding on to positions over the weekend.
$VIX $VXN are both approaching the zones where they are expected to anchor. They may start anchoring later today, but $VIX $VXN are unlikely to pivot and rise substantially today. They most likely will resume their rise early next week, but the timing for it is unclear right now.
We have temporarily removed our UVXY buy limit order. We will analyze the data more for the weekend analysis.
Updates 9:05 AM EST - Friday 9/25/20
The current market condition is: bearish headwinds for $SPX $NDX IWM, but the headwinds are easing up today.
Futures ES NQ RTY stabilized last night. They did not drop below 9/24 lows. This is likely to set up an attempt for futures as well as $SPX $NDX IWM to climb higher today, at least back to the highs of 9/24.
$VIX $VXN will most likely spend the day grinding downward to anchor at their 200-hour EMA lines.
Given that today is Friday, if you plan to trade bullish positions, you may want to consider booking your profits when $VIX $VXN get down into these zones. $VIX $VXN are likely to pivot upward once they have anchored themselves one more time. When $VIX $VXN resume their rise, $SPX $NDX IWM will resume their drops.
Updates 11:40 PM EST - Thursday (for Friday 9/25/20)