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

Market Wrap (recording & summary)

By Rod David | July 21, 2017 - 4:32 pm

Friday’s high point was its recovery from the morning’s test of the 2463.50 bias-down target. That was 2 ticks short of the afternoon’s 2470.50 bias-up signal, and it printed at the 1:20 bias timing window. That’s when the bullish WedEX influence began, and price immediately began dipping.

Testing and attacking Thursday’s 2465.50 didn’t break lower — Friday afternoon wasn’t going to accomplish something that Friday morning had tried and failed. Its reaction spent the last half-hour rallying back to the afternoon’s 2470.00 high, piercing it by an errant tick at the cash session close. Ultimately, the bullish WedEX influence remained intact, so an aggressively bullish influence Monday morning remained likely.

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

JOIN US FOR THE SATURDAY REVIEW AT 9:30 AM ET. ITS LINK WILL BE EMAILED EARLY IN THE MORNING.

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