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

Market Wrap (recording & summary)

By Rod David | September 1, 2017 - 4:32 pm

The last calculable corrective bounce limit was tested Friday. Pre-open, post-open, noon hour and late-afternoon. So many opportunities to extend higher, and none were exploited. No opportunities to trend back down were exploited either. But the close did dip back under 2477.00, so no higher objective is in-play.

In fact, a last-minute dip extended sharply down to 2474.00. And it had originated before coming within 3 minutes of the cash session close, making it valid. No upside traction gained, and no “unfinished business above,” with this week’s rally on the cusp of exceeding correction extremes.

Monday’s holiday is rarely accompanied by significant price action. I’ll still be available to comment on the chart if a situation were to develop.

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

SATURDAY REVIEW IS NOT HELD DURING HOLIDAY WEEKENDS. MARKET WRAP WAS EXTENDED TO REVIEW THE BIGGER PICTURE. CHARTROM WILL RE-OPEN NORMALLY WITH SUNDAY NIGHT’S GLOBEX SESSION… ENJOY THE HOLIDAY!

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