Weekly Raid Weekend Edition #4
Happy Holiday Rally
First my apologies for not writing last weekend, I got back from my honeymoon and it took me a little longer to get back into the swing of things than I thought it would.
Second, over the past week, there were several breakthroughs on the Viking Squeeze Indicator. We are now getting the correct data consistently, the next steps are making it look nice (currently just a csv output) and backtesting the data so we can have some concrete information for everyone about its past efficiency (spoiler alert, so far it looks great with a 70+% win rate).
On to this week!
First on the week is that we still have earnings reports. Fedex looks like the big on this week.
Additionally, High impact news is low this week, but PCE on Friday could be a real insight into the real state of the economy. I personally know a lot of people that are struggling this Christmas and I am sure that isn’t just limited to my group of acquaintances and friends.
I won’t be watching much this week, I don’t trade a lot (if at all) in December. That said here are a few things I am watching this week.
On the SPY 0.00%↑ I am watching that Vacuum below us on the Volume Profile. Even by this ridiculous market’s standards, we exploded up to this level. I am watching to see if we freefall back through it or it gets used as a springboard forward
The other ticker I am watching is QQQ 0.00%↑ for how tech behaves in the coming weeks.
It’s possible that SPY 0.00%↑ continues up what the Q’s contract a bit, so look for divergences to play if thats your trading style.
For me, I am probably done trading anything major other than scalps and day trades for the rest of the year. Anything I post will be on Twitter, but it is looking like I did not beat the market this year, my current YTD return is 20.5% while the SPY 0.00%↑ currently sits around 22%. That said, my portfolio metrics tell me that I had about 70% of the volatility/risk the spy had so risk-adjusted, I did beat it.
For the remainder of the year, I will be trying to get the Viking Squeeze Scanner up and running so I can get it launched to everyone as quickly as possible. As stated in the past, after that I am working on some volatility tools to help to get the market regime down.