2061.50. This represented the room

2061.50. This represented the room for noise above Wednesday morning”s bias-down signal. I was skeptical of the morning”s recovery attempts, and 2061.50 was the most buying pressure allowable as just a correction. It was tested repeatedly before finally launching a 9-point slide to probe under Tuesday”s low. It should have a chance to be influential when tested as support, but the FOMC reaction sliced through it.

It”s chance to be influential as support shouldn”t be too far away. Post-FOMC reactions tend to be retraced entirely within one week. First things, first. Overbought RSIs at Wednesday”s 2099.75 high require its retest, and neutralizing its attraction overnight could suffice for starting a retracement. Otherwise, almost any higher post-open high would all but assure new highs on this leg.

WedEX was of course actively bullish, signaling an upward bias into and out of the weekend. Wednesday”s outsized rally does require confirmation through Thursday”s open, or else the signal will become at risk of inverting. We”ll address that in real-time if needed.

Here”s the recording Wednesday”s post-market Wrap:
https://roddavid10.mitel-nhwc.com/join/kfphkcs

And don”t forget about Thursday night”s Training Session #3:
http://marketfy.com/product/rod-davids-futures-market-timing/blog/1176/view/74986/