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Choppy consolidation resisted by 2112 – If, Then… Market Timing

Choppy consolidation resisted by 2112

By Rod David | June 3, 2015 - 9:27 am

Choppy consolidation resisted by 2112 broke higher and eventually surged to attack 2120. Gapping up above yesterday”s 2116 high would compensate for not maintaining the afternoon rally. It still could, but it”s more difficult now since retracing it all back down to 2112. We”ll still expect bigger things above if the opening 15 minutes recovers 2114.75 (now being attacked to within 2 ticks). It must be recovered almost immediately to enable gapping up above 2116. Otherwise, there isn”t anything bullish about another failed rally effort.

Here”s the pre-market Tour recording for details:
https://roddavid10.mitel-nhwc.com/join/ypyjthv

Posted in S&P