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Hold short, or hold your breath. – If, Then… Market Timing

Hold short, or hold your breath.

By Rod David | January 30, 2015 - 3:34 pm

The next support below current levels is… scary.

The Greece headline”s reaction was substantial, essentially rallying 16 points in 30 minutes to 2010.00. Its 12-point retracement was similar, rallying 19 points just over an hour to 2017.00.

They were also similar in being “the fruit of the poisonous tree,” that being the late-morning new session lows at 1993.50.

Now there are newer session lows at 1992.00. And there is no reason that can”t be probed. Today. By a lot.

The position-squaring window is now opening. Unless it were to recover back above 2000.00, the downward momentum remains very much intact.

Posted in S&P