The major indices closed another up week. The market was waiting for J. Powell's speech on Wednesday. As soon as J. Powell said the Fed might slow down the rate hike the market took off to the upside. SPX and RUT rallied 3% and 2.8%. They both closed above their 200D SMA. NQ is the only one still below its 200D SMA. The NFP report today was better than expected. The implied inflation nature caused a selloff in the morning. The majors recovered most of their losses by the end of the day. The bulls are in control so far. The SPX Doji on Thursday is still a concern unless it gets crossed next week.
The IB Netliq is down 3.3K from 163.55K to 160.25 K. The leverage is up 4.6% from 268 to 278. Vix is at a low 20 now. The realized P/L is -1.2K. The weekly collected cash is $4K. I hit twice 1K hedges this week. One of the hedge expansions suffered on the 3% rally Wednesday. I must not be too greedy on big market moves.
The 0 DTE is still in the dump. I was sucked deeper into the SCs after the 3% rally on Wednesday. The two accounts collected $2.3K for the week. Thanks to two 5x hedges paid off.
The lessons are still the same:
1. Learn what the best-disciplined traders would do.
2. Take stops to void bigger losses.
3. Make improvement one step at a time.
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