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Market Wrap (recording & summary) – If, Then… Market Timing

Market Wrap (recording & summary)

By Rod David | July 5, 2017 - 4:32 pm

Tuesday night’s rally had attacked Wednesday morning’s 2430.50 bias-up signal. Its post-open rejection included a plunge that filled the gap back down to Monday’s 2420.50 close. Stopping short of Monday morning’s 2418.50 lows probably only delays the eventual break lower, and the domino effect leading to 2399.00 and 2393.00.

Overnight resistance is at 2433.00. But recovering 2435.50 through Thursday’s open would be credible for ending the 2-1/2 week old downtrend, and also for resuming the rally to fresh highs. Fresh highs might be limited to 2454.00, but fresh highs.

Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.

Posted in Market Wrap, members-only, S&P