Founder's Trading Journal Afternoon Notes – 6/29/2022 by AF Thornton Jun 29, 2022 0 Comment Good Afternoon:We are working on the videos for today’s live sessions. The microphone still sounds a bit raspy so we are working to correct that. By next week, video production will be a finely tuned machine.As the proverbial saying goes – do you want the good news or the bad news first?Ok, let’s start with the good – the S&P 500 finished MASSIVELY unchanged today, leaving this morning’s narrative intact.Options expiration already asserted itself today, which is why the market chopped sideways in a kill zone!As you will see from the 2-minute chart below (with my scalping bands), all the market did today was chop around the Weekly Expected Move in a tight range as Dealers defended the level all day. S&P 500 Index Futures - 2-minute Candles Reflecting Today's RTH Session. And some more good news – the WEM held instead of getting blown out in 2 SIgma moves as it had in four out of the last five weeks. Normalcy ahead!And the bad news is there was little to no money in it unless you wanted to hyper manage in the one or two-minute time frame. I don’t call it a “kill zone” for nothing.And now you know why I typically sit these days out – and tomorrow has the same potential as pointed out this morning.I am not aligned either way and have no dog in the hunt.Just tell the dealers and money managers to let it loose on Friday for a nice, pre-holiday rally or more declines – dealer’s choice.See you in the new Trading Room bright and early, about a half-hour before the open!Likely, we will be observers only if there is another day like today. I will call balls and strikes anyway, so you still learn something.A.F. Thornton Click to Learn More About Navigator™ Trading Subscriptions Share with Friends and FamilyWord of mouth is crucial for growing our trading community and providing education and support for your trading decisions. Please feel free to share this with your friends and family if you find the information beneficial. Facebook Twitter Email LinkedIn
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.