Pre-Market Update 1 – 6/11/2021

Pre-Market Update 1 – 6/11/2021

Traders are testing the 5-Day EMA on the downside for the S&P 500 after another failed breakout attempt this morning. The overnight low hovers at the same level. The Navigator Algo trigger on the daily chart (self-calculating) also points to the same general level as go/no-go for the algorithm..

Unless we get a break up and through the 5-min Navigator Algo trigger, the balance rules point down and through the 5-day EMA here and to 4205, but it does not necessarily have to happen today. I am monitoring carefully here.

Be vigilant and careful today.

A.F. Thornton

AF Thornton

Website: https://tradingarchimedes.com

A.F. "Arthur" Thornton is an expert in logic, risk/reward quantification, market fractals, pattern recognition and asset class behavioral analysis with 34 years devoted to developing algorithmic and quantitative trading systems. In addition to trading his own capital, Mr. Thornton designs custom algorithmic and quantitative trading systems for a small and exclusive group of exceptionally qualified traders.

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