Weekly review.

I was expecting the market pulled back on Wednesday after the big rally on Tuesday.  But it didn't stop. it kept going up. Tuesday's high 2485 pretty much acted like a support for the rest of the week. I was lucky to cut loss most of the short position on Wednesday and kept most of the long position.

I did very well this week.

Ok, what will happen next week?

"However, the Fed's massive balance sheet will be the focus of next week's FOMC meeting as it is widely expected that Fed Chair Janet Yellen will announce the start of a gradual reduction of assets bought in response to the 2008 financial crisis. The two-day FOMC meeting will kick off on Tuesday"

 We'll see some weakness next Monday and Tuesday.  I will use 2485 as support. the upper range set to 2505.

 I speculate that the market will probably close lower than now, with vix 10.17. People are getting greedy. :-)

Index	Started Week	Ended Week	Change	% Change	YTD %
DJIA	21797.79	22268.34	470.55	2.2	12.7
Nasdaq	6360.19	6448.47	88.28	1.4	19.8
S&P 500	2461.43	2500.23	38.80	1.6	11.7
Russell 2000	1399.43	1431.71	32.28	2.3	5.5

Trading update and the speculation about the next week.

Normally I do some market review and examine my position on Saturday morning, although I haven't been posting that much.

I withdrew most of profit out at the end of July and am shopping for an investment property. Man, the market is so hot and we haven't had luck yet. But I don't want to pull the money back into the stock account. I will feel achieved if we actually get a house and it motivates me to make more money in the stock market.

I also opened a new trading account with Td Ameritrade and moved some money out of IB. I've not been very happy with interactive brokers since they charge way too many fees. So I'm pretty happy with my performance since I have much less money in IB now. I also started to make money in TD, but not much since I need to get familiar with its trading platform.

Ok, that's all the updates from me. I hope that you guys are making money as well!

The market pulled back on Friday since Hurrican Irma has bought a lot of fear and uncertainty. But if the damage is not that bad, the market will go higher next week.  In my opinion, it will go higher next week.  As a result, I added more long positions by the end of the trading day.

ES: 2445-2471. Close at 2462. (I will switch to use December contract next week). 17 points lower than last week's high. Actually it is not that bad.

If ES reaches 2445 area, I will be a buyer.

New Chapter of my life!

 Check it out!

http://www.seattlesunrealestate.com

I still actively trade ES/NQ.  But I just don't need that much time anymore.  I have been using the same methodology since my first post back in 2012.

I got the real estate license two year ago but am getting very serious now!

Welcome to invest in Seattle properties, I can be the broker that you can count on!


 

A quick notes about the market

1. This month low： ES：2410 on 7/11/17  NQ： 5650 on 7/10/17。

2. This month high： ES： 2480.5  NQ： 5995.75  on 7/27/17. 

vix: 9.04--12.1  9.93 now.

Today: 2472-2478.

This week: 2460+/-5- 2480+/-5

Next week!

Fed: Wednesday.
Action: buy any weakness before FED.

Whenever I have time, I've posted my real trade at

http://www.wenxuecity.com/groups/bbs.php?act=bbslist&gid=2861


I normally go back to the posts to re-live that moment and check out why I made those trades on the weekend.

Return Curve

Up and down, up and down. I don't really like it that much.

As a result, I withdrew most of the profit this year out. Hopefully I have a better chart for the next half a year. Maybe I will focus on position size more than trading itself.

Yes! I did it!

Now ES: 25
        NQ:15

I feel much better and I actually did the trade that I don't normally do!!!  I normally can turn big profit to LOSS!! Some times it grows into bigger profit. I need to be fair. :-)