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Ho-hum, S&Ps indicated to open – If, Then… Market Timing

Ho-hum, S&Ps indicated to open

By Rod David | April 22, 2015 - 9:17 am

Ho-hum, S&Ps indicated to open slightly higher. Not surprising, since yesterday”s sellers expended all available energy without gaining traction for the effort… Oh, and another overnight plunge has disappeared.

The 2080.25 low”s Expanding Triangle reversal pattern has played out already, launching a pre-open rally up to 2096. that”s a lot of buying pressure expended near-term, and that”s resistance up to 2096.75, so a pullback to 2091.50 wouldn”t be surprising. It also wouldn”t be too much to ask before considering long-entry. Not holding its test would suggest another probe under yesterday”s lows.

More details in the pre-market Tour recording here:
https://roddavid10.mitel-nhwc.com/join/mjvzkzy

Posted in S&P