Globex chaRTroom Link – If, Then… Market Timing

Adobe launched an unscheduled maintenance last night, and I have yet to hear back when it will end. Meanwhile, Sunday night’s open spiked down and extended 25 points. Extending last week’s decline would next target 2747.00 and 2738.00 then 2722.00. Sunday night’s opening bar pierced 2738.00 by 2 ticks.

2738.00 was probed and retested, but not broken before price firmed back up through 2747.00, to now probe back above what is this morning’s 2853.00 bias-down signal by 6 ticks. Holding 2747.00 as support and exceeding 2753.00 are constructive to retracing the rest — and to potentially greeting the open above Friday’s lows, isolating the probe under Friday’s lows to the overnight.

Isolating the probe under Friday’s lows to the overnight would form a setup capable of new highs before allowing the next downleg. Still probing fresh lows at Monday’s open would more likely retest 2747.00 and 2738.00 and then extend down to 2722.00.

I’ll have alternative chaRTroom instructions in the morning if Adobe hasn’t yet returned. Meanwhile, you’re welcome to CLICK HERE TO RETRY