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

Market Wrap (recording & summary)

By Rod David | October 16, 2017 - 4:32 pm

Was Monday inhibited by post-close earnings due from NFLX? If so, then it saved the session from trending down. The morning’s failed probe of fresh highs up to 2557.75 had repeated the range’s pattern of collapsing within minutes of an otherwise enthusiastic start. Two more upside attractions had been neutralized. That range had been been flat-to-higher, still probing fresh highs but not closing above relevant resistance.

Also missing from the ranging is a close under a relevant support. The noon hour’s fresh low at 2550.75 held above Friday’s low. And the afternoon recovered gradually into the 2555.50 cash session close. Closing AT Friday’s high once again doesn’t give the rally any new traction. But it can extend so long as relevant support holds.

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