That is how I started this week

Pretty boring stuff. I will hold whatever I have for now.

This Week P&L

  I don't trade much. I just sit and wait.  The $SPX is pretty much flat but I'm pretty happy with my return. I reduced my position to whatever I had on Monday for the weekend.

 Since I work from home most of the time, I can summarize more of my trading style. I hold  position over the weekend.  I start to accumulate position around Tuesday until Thursday.
I day trade the options on Friday and also reduce the position size to the size similar to what I start on Monday. It has been this way for a while. Yeah, I have been winning since the week of Bexit. I had the positive P&L most of the weeks before the week of Bexit too.

 Am I ready for the next SPX's 100 point move? I think so at this moment.

 I need the market to make a move so that I can verify it.

 My YTD return is still much higher than SPX.

 I need to give myself credit about cut loss. I benefit from it greatly.

Weekly summary

The past week told the tale of three markets as the tech-heavy Nasdaq climbed 1.2%, the Dow Jones Industrial Average lost 0.8%, and the S&P 500 set an intraday record high, but finished the week essentially where it started (-0.1%).

Quarterly earnings were largely responsible for the differential in returns with the Nasdaq benefiting from upside surprises reported by heavyweights like Apple (AAPL), Alphabet (GOOGL), Amazon.com (AMZN), Facebook (FB), and Celgene (CELG). Conversely, the Dow was pressured by weak results from ExxonMobil (XOM) and disappointing comparable sales results fromMcDonald's (MCD). The broader S&P 500 split the difference between the Dow and Nasdaq.

In addition to receiving a boatload of earnings, investors had to recalibrate their expectations for monetary stimulus from global central banks. The Federal Reserve made no changes to its policy stance and only hinted at the possibility of a rate hike in the near term. The central bank shared its lukewarm outlook on Wednesday, two days before the Friday release of the advance reading of second-quarter GDP, which missed estimates (1.2%; Briefing.com consensus 2.6%). Also on Friday, the Bank of Japan called for just slight adjustments to policy, undershooting market expectations for aggressive stimulus measures. The Japanese yen rallied in response, pressuring the dollar/yen pair to a two-week low near 102.00.

Rate hike expectations receded throughout the past week. Since last Friday, the implied probability of a rate hike in December, estimated by the fed funds futures market, declined from 47.8% to 33.0%. The fed funds futures market does not expect the Federal Reserve to depart from its current target range until after July 2017.

Index	Started Week	Ended Week	Change	% Change	YTD %
DJIA	18570.85	18432.24	-138.61	-0.7	5.8
Nasdaq	5100.16	5162.13	61.97	1.2	3.1
S&P 500	2175.03	2173.60	-1.43	-0.1	6.3
Russell 2000	1212.73	1219.94	7.21	0.6	7.4

Big picture..

NQ breaks out. ES is still in the middle. I chased NQ today.

Not much to write.

  I've pretty much repeated what I did before. When I control the position and risks, I've done very well.

 My return is higher than $SPX so far.

Next week

http://www.wenxuecity.com/groups/bbs.php?act=bbsview&gid=2684&basecode=994870

What happened on July 7th? (Lesson!)

I like to review my old trade for the last week. Yeah, I made money. But my entry on Thursday was horrible.  I added long positions before I posted it in the forum. Why did I do that? What happened if we didn't have rally on Friday?

If I followed what I always wanted to do,  "Take an action in the final hour if there is no trend on that day " and I would have collected a LOT more money!!!!!!!!

 http://bbs.wenxuecity.com/finance/4055880.html

I can't complain it on Friday since I did pretty well. I chased at the opening and  closed some by the end of the day.

7/5/2016 Monday

Vix: 15.58

Expected Range: 2060+/-5 -- 2105+/-5. Last week Range:

1981-2101.

First Day down. There is more room to go down.

I will start a new job next week.  I feel good about it.