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Last night”s presidential speech was – If, Then… Market Timing

Last night”s presidential speech was

By Rod David | August 8, 2014 - 9:30 am

Last night”s presidential speech was very well received… by shorts betting on the market decline to continue. The Dow plunged 125 points after the new policy was revealed. The last bit of that plunge came after Europe”s opens.

A bounce was already underway, probably only temporarily, when another president”s policy shift was announced (tweeted, actually). “De-escalation” by Russia triggered a 90-point gain before today”s open.

I”ll need to see fresh highs through the open before assuming the overnight recovery has legs. Meanwhile, dipping back into negative territory could be a gateway to retesting overnight lows. Look for more observations in this thread on the Activity Feed after the open.

Enjoy!

Posted in Bigger Picture