Monthly Update, August 2025

24 Sep

24Sep

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Recent Program PerformanceWith volatility remaining subdued, our overall performance has been restrained this year. The multi-day component of our strategy continues to deliver strong results, while intraday trading has largely been a pattern of “one step forward, one step back” over the past few months.This environment can shift quickly, and the S&P 500 is well known for sudden volatility surges. Because volatility is the primary driver of our returns, trading activity will stay muted until conditions pick up. Fortunately, market sentiment rarely stays calm for long — and the fall season is historically one of the most volatile periods of the year.

The Big PictureMarkets remain in a bullish phase, though recent developments warrant caution. The FOMC’s rate cut — normally a catalyst for further gains — came at a time when equities were already extended. In such conditions, much of the buying power has been exhausted, and sentiment can quickly turn.So far in 2025, the S&P 500 and Nasdaq have been propelled by a relatively small group of stocks, leaving the rally vulnerable. A period of consolidation is likely, with near-term equity underperformance and an elevated risk of a moderate pullback.

Our OutlookFrom a performance standpoint, our systems have adjusted to accommodate a trending, low-volatility environment. As long as these conditions persist, we anticipate that the majority of returns will be driven by multi-day trades. While stricter criteria for intraday setups have reduced overall trading activity, they do not eliminate the potential for capturing outsized gains.
Best regards,

Sam Beckers and Dario Michalek
Soaring Pelican, LLC
805-322-7393

www.soaringpelican.com

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. FUTURES TRADING IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK.

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