Founder's Trading Journal Update on Stops by AF Thornton Mar 3, 2021 0 Comment With the XLE and XLF trading nicely positive this morning, there are no concerns on these positions at the moment, and we will continue to use a close below the 5-day exponential moving average on the daily chart as our stop. As to the S&P 500 index, continued selling of key tech stocks are weighing on the index, but we have positive breadth across the NYSE. So I will hold the S&P 500 position, using this morning’s low at 3833.25 as a stop, unless I send out an earlier signal.Statistically speaking, there is a better than 70% chance that the low is in for today. So we will see how the rest of the day unfolds.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.