ELITE Tape: NQ Bleeds, MES Wins
MNQ led ELITE volume for the sixth straight week. NQ led losses for the sixth straight week. MES was the standout winner again. Here is what the data shows.
Week in Context
Memorial Day kept Monday quiet. Light volume, thin participation, the kind of session that barely moves anything. Then Tuesday opened, and the week got real fast.
By Friday, ELITE accounts closed the week net negative, most of the damage tied to one instrument. If you have been following these recaps, you already know which one.
Elite Trader Funding is a futures prop firm for traders who want uncapped Live Elite payouts. We track ELITE account activity every week, and for the sixth week in a row, the top of the volume chart and the top of the loser list told the same story.
Where the Activity Was
MNQ has been the most-traded instrument across ELITE accounts for six straight weeks. Not six of eight. Six in a row, without a break. ELITE traders keep coming back to it, and the margin at the top has not been close.
NQ was second again. MES and ES filled the top tier, in the same positions as every week in this stretch. Gold and Micro Gold both held their Top 10 spots for the sixth consecutive week. The instrument mix at the top has not moved.
Six weeks, same leaderboard. If you are an ELITE trader not positioned in NASDAQ or S&P futures, you are trading outside the mainstream of your peer group. That is not a judgment. It is just what the data consistently shows.
Where the Pain Was
NQ was the biggest loser again, and it was not close. The gap between NQ's losses and the rest of the loser list was large. Traders who were long NASDAQ heading into Tuesday took the brunt of it. Thursday helped claw some back, but not enough. NQ finished the week deep in the red.
E-Micro Gold was in the loss column for the sixth consecutive week. The losses are smaller in scale than NQ, but six straight weeks is a streak that speaks for itself.
The Swiss Franc had an unusual week. It rarely shows up on this list. This week, it finished as one of the bigger individual losers, which stood out against a backdrop of mostly familiar names.
MNQ also finished in the red, though by much less than NQ. Same directional exposure, smaller contract. The gap between the two reflects the size difference.
Where It Worked
MES was the clear winner this week. Four consecutive weeks at the top of the profit column, five of the last six. In a week when the overall ELITE result was net negative, MES was the instrument that offset it.
Natural Gas has been quietly positive for five of the last six weeks. Low volume compared to the index products, but it keeps landing on the right side of the ledger.
The profitable side this week was mostly micro contracts: MES, Micro Russell, Micro Dow, Micro Silver. Smaller positions, tighter risk, better outcomes. That has been the consistent trend.
Day by Day
- Monday, May 25 (Memorial Day): Thin volume, light participation across the board. ELITE accounts closed the day net positive, which is about as good as a holiday session gets.
- Tuesday, May 26: The week's damage happened here. Volume picked up, and so did the losses, concentrated heavily in NASDAQ products. One day drove most of the week's negative results.
- Wednesday, May 27: Still negative, but calmer. The market did not recover, but it stopped accelerating in the wrong direction. Volume held steady.
- Thursday, May 28: The week's best day. ELITE accounts flipped positive, putting up the strongest single-day result in either direction all week.
- Friday, May 29: Highest volume day of the week. Month-end activity boosted participation, but the day ended with a modest net loss. Active session, slight negative finish.
The Pattern
Looking back six weeks, the trend signal
Six weeks of data. Long enough to tell the difference between a rough patch and a pattern.
NQ has been one of the top loss-generating instruments every single week for six straight weeks. Not four out of six. Not five. Six out of six. The size of the loss varies. Some weeks are worse. But NQ keeps landing in the same column, week after week, regardless of what the broader market is doing. That is a pattern.
E-Micro Gold has the same streak. Six consecutive weeks in the loser column. Same story, smaller scale.
MNQ has been the most-traded instrument every single week in that same window. Six weeks. Same instrument. Same rank. No variation.
MES has been in the profit column for four weeks in a row. Natural Gas five of six. The winners have been just as consistent as the losers.
None of this means you should stop trading NQ. High volume in a high-loss instrument usually means real conviction behind the position. Conviction is fine. Sizing into NQ six weeks into this streak without knowing the streak exists is a different conversation. At Elite Trader Funding, we put this data in front of traders every week because informed decisions are better decisions. The data is here. Use it.
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