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Greeting the afternoon”s FOMC Minutes – If, Then… Market Timing

Greeting the afternoon”s FOMC Minutes

By Rod David | April 8, 2015 - 5:00 pm

Greeting the afternoon”s FOMC Minutes from within the 2071.25-2077.50 range was able to retract the initial knee-jerk reaction, but not reverse it. Actually, that probes recovery did extend through the range”s upper-end, but couldn”t remain above the range.

It”s almost like equilibrium — which is alternating failed trending attempts, with the third trending attempt a smashing success… much like an Olympic shot-putter. Since neither buyers nor sellers gained traction for their effort through Wednesday close, trending Thursday morning should begin by surging/gapping open.

Resolving up still gets a benefit of the doubt. Resolving down would be credible, too (watch today”s post-market Wrap for a detailed discussion about that), but attempts to break lower haven”t gained traction. Putting it all together makes Thursday”s open likely to gap up and extend higher. Not gapping up would become likelier to trend down.

https://roddavid10.mitel-nhwc.com/join/cxwwwsz

REMINDER: THURSDAY @ 6:00PM ET
TRAINING SESSION WORKSHOP
[afternoon reminder will include the link]

Posted in S&P