The S&P 500 (SPY) fell -0.84% to close at 762.60 while the Nasdaq 100 (QQQ) held up slightly better at -0.72%, closing at 710.93, with the Russell 2000 (IWM) lagging badly at -1.34% and VIX jumping +7.52% to 16.01. Energy (XLE) led the sector board at +0.27%, the only meaningful gainer alongside Real Estate (XLRE) at +0.20%, while Health Care (XLV) trailed everything at -1.87%, followed by Consumer Discretionary (XLY) at -1.61%.
Inside tonight's sheet: 7 new orders - 7 Mean Reversion and Surge Pullback limits resting quietly below the market, waiting for Friday's weakness to come to them. One of them - AXON, tonight's free Mean Reversion setup - is open to everyone right below.
AXON - Axon Enterprise Inc Common
Axon Enterprise designs and sells public-safety technology - its TASER conducted-energy weapons, police body cameras and in-car cameras, and the cloud-based Axon Evidence (Evidence.com) digital-evidence-management and real-time-operations software used by law-enforcement and public-safety agencies worldwide.
Entry limit: $583.24 - Stop: $513.74 (on a close)
Last close $614.26 (-4.9%) - volume 820K (20-day average 970K) - 52-week range $345.94 to $781.90 (-21% off the high) - ATR (14 days) $41.75
Tested 902 trades: 69% win rate, +5.49% average winner, -5.97% average loser, 2.02 profit factor, 6.92% CAGR over the 25-year test, $100k became 5.3x.