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

Market Wrap (recording & summary)

By Rod David | October 11, 2017 - 4:32 pm

Firming since Wednesday’s open greeted the afternoon’s FOMC Minutes near the 2551.00 session highs. A delayed surge collapsed. A very shallower delayed surge to only 2552.00. And relatively collapsed, only 3 points to 2449.00.

The setup was smaller and later than Monday and Tuesday’s gaps up that both collapsed more substantially. But it was similarly distribution. And its collapse also held at or above relevant support to avoid reversing the trend down.

Monday and Tuesday’s collapses were retraced entirely the following day. Wednesday’s was retraced already, back to Tuesday’s 2553.00 high. Another 4 points higher is likely, but still vulnerable to the same distributive template that triggered reversals down.

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