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Extending under Tuesday”s low would – If, Then… Market Timing

Extending under Tuesday”s low would

By Rod David | April 1, 2015 - 4:41 pm

Extending under Tuesday”s low would have targeted 2054.50 overnight, and could have recovered from there through Wednesday”s open. Trending up above 2064.00 through Wednesday”s open would have reversed the trend up. It still may.

Tuesday night”s drop was 20 points under 2054.50. Wednesday”s post-open dip was almost 15 points under 2054.50. After reacting up, Wednesday”s session bounced twice to 2054.50. Was Wednesday”s market suppressed only temporarily by the overnight shock?

Opening Thursday above Tuesday”s 2060.50 could reject Wednesday”s probe under it, and extend higher aggressively. But dropping back down to Wednesday”s 2045.00 lows would be suspicious. Breaking under them would be bearish.

Here”s the post-market Wrap recording:
https://roddavid10.mitel-nhwc.com/join/zvswjvz

Posted in S&P