Navigator™ Signals for Day Traders Morning Outlook – 4/12/2021 by AF Thornton Apr 12, 2021 0 Comment I need to abbreviate this morning to stay timely. The most important advice I have this morning is not to get lost in the weeds of your day trade screens. The mid-month dip is due this week, likely to coincide with the 40-day cycle dip due any time. We should get one last flip up from there, and I don’t necessarily expect a new high. Then, the nominal 18-month cycle top should present and end this latest run from March 2020 – and this will coincide with the simultaneous peaking of every cycle of lower degree. Think of all of this as an “M” pattern. Don’t lose sight of this upper time frame activity while you are mesmerized in your 1, 2, or 5-minute world. This entire “M” activity likely will be concluded before May 15th, which is the latest forecast I can come up with for the 18-month cycle peak. David Hickson covers the sequence well. If you click on the picture below, it will take you to his latest cycle forecast: Today, consider the potential for balance which would be healthy. This scenario would have the NYSE session today trade completely within the framework of Friday’s session and potentially even within the overnight session. If so, responsive trade the edges only.As Friday achieved new all-time highs, there is little to go on for upside continuation. Should there be a breach of Friday’s high, monitor for continuation and look for strong internals to underpin price action before attempting an initiative, breakout trade.The overnight low is a weak low as it tagged a very nuanced level where it reversed. Assume that there could be a short (given proper context – e.g weak internals) below the overnight low. As with a breakout above Friday’s high, “monitor for continuation” and make sure that context corresponds as the current tone is obviously not favoring sellers right now.A.F. Thornton
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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.