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Globex open just popped 10 points. – If, Then… Market Timing

Globex open just popped 10 points.

By Rod David | December 11, 2016 - 6:24 pm

Friday’s rally into the final hour had fulfilled its highest calculable objective at 2254.25. Reacting down touched 2151.75, and any deeper would have reversed momentum down, albeit too late to damage the chart. Anyway, its touch bounced back up to 2254.25 and firmed another point into the futures close.

Now Sunday night’s open has surged 10 points to attack 2265.00. The catalyst is an oil output deal that has pushed Crude Oil $1.25 above its 52.75 target, with potential up to 56.15. This weekend’s Saturday Review noted that the next higher objective has room up to 2270.00, but also that a higher close is not assured, while a multi-session pullback is getting likelier.

 MONITOR GLOBEX IN THE CHARTROOM HERE
 watch the Saturday Review recording here

Posted in Bigger Picture, members-only, S&P