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

Market Wrap (recording & summary)

By Rod David | October 27, 2017 - 2:57 pm

Market Wrap was held an hour early today, and I’m away from the screens for the final hour. You can watch the Wrap recording here.

New trend highs up to 2580.75 printed when the afternoon bias environment came within view of lapsing. The actual lapse trended back down under the noon hour’s 2578.75 prior high. This setup creates risk of trending down during the final hour.

Trending down into the close just a little could prevent a new trend high close on a Friday. Last Friday’s new trend high close still requires another, regardless.

Trending down into the close a lot could also prevent closing above 2563.75 recovery. Confirmed by a second-day consecutive higher close Monday would all but ensure extending to 2590.50. The last close above 2563.75 was not confirmed.

REMINDER: THERE IS NO SATURDAY REVIEW THIS WEEKEND. CHARTROOM WILL BE AVAILABLE AGAIN AT SUNDAY NIGHT’S GLOBEX OPEN. ENJOY THE WEEKEND!

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