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Another bite at the rotting apple. – If, Then… Market Timing

Another bite at the rotting apple.

By Rod David | February 27, 2015 - 11:53 am

Not quite exploiting the rally potential.

Although this morning”s sellers didn”t gain traction, neither did buyers. The post-open bounce to 2109.50 has been tested and retested, and even re-retested. But each test has reacted back down into the range.

Fresh session highs would be attracted back up to yesterday”s highs around 2112.75. And it would be more easily exceeded than if it were probed earlier. Retesting Wednesday”s 2117.75 high would be a likely attraction.

There”s no requirement to probe higher — or lower, although a retest of this morning”s 2103.25 low becomes likely if the noon hour isn”t entered or exited above 2112.75.

Posted in S&P