Founder's Trading Journal Microsoft Giveth – Then Taketh Away… by AF Thornton Jan 25, 2023 0 Comment Good Morning:It was all about Microsoft yesterday, trading higher because they beat expectations but lower after negative forward guidance.This will be quick – as I am headed to the Trading Room this morning.We will Gap down for the second morning in a row. Gap Rules are on the table. It won’t be lovely at the NYSE Open.Closes below the 5-day line should trigger stops, as does taking out yesterday’s low.Of course, this is a low-risk-to-stop entry point for the braver among us.Major support lies at 3965, then 3930. Resistance is at 4040, then 4055.I will update you after the close.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.