Rally Time?

Good Morning:

• The Monthly Employment Report for December shows employment growth slowing – which is the Fed’s Goal – Twisted as it is. 
• So far, the market has had a positive reaction, and our runner in the Swing Strategy is still alive. 
• We will scale into a full position if the market follows through and breaks out of the balance range.
• Key Levels Are Unchanged—Price Needs To Hold Above The Five-Day Line And Algo Trigger On A Closing Basis for us to stay in the game.
• Price is slated to gap open toward the top of the balance range, so both Gap and Balance Rules Apply this morning.
• While it has been the same redundant theme day after day, support Comes At 3850, 3815, and 3775, And Resistance Remains At 3912 And 3975. 
• If the price cannot break out of the balance range, the next catalyst will be the inflation reports.
• We Will Be In The Founders’ Room Later This Morning. Ensure you execute a reset if you have not been in the room for a while due to the holidays. Also, anything we discuss on the microphone may not make it into the room notes.
• Larger Overhead Forces Are Negative, But A Small Rally Is Still Possible.

A.F. Thornton