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An 42-point plunge during Thursday”s – If, Then… Market Timing

An 42-point plunge during Thursday”s

By Rod David | August 27, 2015 - 4:41 pm

An 42-point plunge during Thursday”s last 60-90 minutes underscored the relevance of 2086 being a potential corrective rally limit. Its 42-point recovery before the close suggests the corrective rally may have further to go before resuming the decline. The late recovery was otherwise just noise, not accomplishing anything new before coming to within 3 minutes of the cash session close.

Thursday afternoon”s sellers gained traction for their efforts. So, they”ll be rewarded with control of Friday morning”s bias environment unless the open were to maintain its recovery above Thursday”s 2086 high. Higher corrective rally targets at 2096 and 2000 could be met overnight to neutralize their attraction and allow a downleg to get underway.

Details and other markets coverage were discussed during the post-market Wrap recorded here:
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Ater 6:30 ET, use one of these links to monitor Globex action in the chaRTroom:
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Posted in S&P