Interesting day in the markets today with most of the action happening in the European session overnight. Weekly jobless claims released pre-market came in below expectations reinforcing the case for the Fed to keep rates elevated. This could’ve sold the markets off, but it didn’t, that’s why trading can sometimes be confusing because you have to trade what is on the chart, not what you think the market should do.
Great example today of how price respects and reacts around important price levels.