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Earlier I had described the – If, Then… Market Timing

Earlier I had described the

By Rod David | July 29, 2015 - 9:18 am

Earlier I had described the shallow overnight probes as “cautious optimism.” Since then, the consolidation under 2093 tried probing higher, only to be swatted back down to yesterday”s 2087 close. Now, THAT”s cautious optimism. Not so optimistic that it has expended all available buying pressure, or that rejecting it should fall very far. And also not so cautious that momentum is reversing down — not yet. But there isn”t much room for a deeper pullback without it becoming a new downleg, at least some constructive pessimism ahead of this afternoon”s FOMC statement. Details and other markets coverage are in the pre-market Tour, recorded here:
https://roddavid10.mitel-nhwc.com/join/mjzcfvy

Posted in S&P