Founder's Trading Journal Still Hanging… by AF Thornton Jan 5, 2023 0 Comment Good Morning:The Fed Minutes were somewhat negative yesterday, but the market held its ground. Whatever the Fed left undone could be finished by two governors speaking today. They clarified that a stock market rally is not preferable to them.Price is sandwiched between the 5-day line (our stop) and the 21-day line (mean) 3892-3875.Key Levels Are Unchanged—price Needs To Hold Above The Five-Day Line And Algo Trigger On A Closing Basis.Support comes at 3815, 3875, and the recent swing low at 33789.75. Resistance Remains At 3912 And 3975. The monthly employment report is the next catalyst tomorrow.We will be in the Founders’ Room later this morning and tomorrow for the monthly report.After a 10-day triangle and consolidation, the market is likely to break out tomorrow with the report.Larger forces are negative, but a small rally is still possible.A.F. Thornton
Related Posts Founder's Trading Journal Accounts Founder's Trading Journal Pigs Get Fat – Hogs Get Slaughtered Founder's Trading Journal Reducing Positions Founder's Trading Journal Mixed Signals / Taking Profits Founder's Trading Journal Sell When You Can – Not When You Must! Founder's Trading Journal Onward. Upward, or Look out Below… Founder's Trading Journal New All Time Highs and Then? Founder's Trading Journal Sputtering Near the Channel Top… Founder's Trading Journal The CP Lie Inflation Report is Out – Sell the News? Founder's Trading Journal Raising Stops to Lock in Profits
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.