*This one is long, make sure you click through to the site to read it, because your email provider might cut off the bottom of the email and there are some good charts in there at the bottom!*
Welcome to the Daily Report where I review what happened in the past trading day, the driving forces behind the moves🚀. At the end of the day, I publish the signals from a Short-Term trading portfolio that trades between 4 -10 day holding periods (currently beating the S&P500 by a lot this year), an Intermediate Term Portfolio that holds for about 3 months on average targeting 15-25% yearly returns, and the actual signals I use for trading my retirement accounts using mean reversion (5 different systems that average 10-20% yearly gains on the indexes). Everything comes with back tested results on the setup📝 and the entries and exits always happen at the end of the day so you can buy and sell in the after-hours session (or on the open the next session if you prefer). I personally trade these signals, so there is no funny business here. I eat my own cooking🍳.
Let’s review what happened today!
What Drove Today’s Move
Market seemed to like the jobs numbers today (I didn’t think they were that great, but if the market likes them, then I’m not going to argue with Mr. Market).
We went through the levels this morning - basically I said we wanted to be taking some profit up there around 600 SPY (roughly where we ended up after that first half hour), marked with pink arrows). We can see we knew 600 was a level where a ton of call positioning was, and it would be resistance for the day. No sense in fighting that - take the gains and go away. We had a few short-term trades we cashed again for profits today, really nice to see the setups working well.
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