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An overnight tumble probed momentarily – If, Then… Market Timing

An overnight tumble probed momentarily

By Rod David | August 22, 2014 - 9:30 am

An overnight tumble probed momentarily under yesterday”s range, and the open is indicated in negative territory. But today”s session still has an attraction outstanding above yesterday”s highs. And holding or recovering back above today”s opening print 15-30 minutes after the open would keep alive the potential for fulfilling that attraction today.

This being a Friday, beware of the liquidity trap that happens when volume starts evaporating by mid-morning. Especially among MJ stocks, that can have one of two effects — either volatility dies out, or the slightest push can have substantial impact.

Since we had no weekly Livedesk Unlimited yesterday, let”s have a 30-minute session at 10:45 ET this morning. I”ll send out another reminder. Meanwhile, look for other observations after the open in this thread.

Posted in Bigger Picture