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

Market Wrap (recording & summary)

By Rod David | December 22, 2017 - 4:32 pm

Merry Christmas!

Thursday night’s bounce had failed already before Friday’s open. Which Friday’s open and morning exploited by breaking down from 2688.00 to attack 2682.00. That was the morning. Sponsorship for trending down was difficult to gather, so it didn’t. Sponsorship to recover was unnecessary, so it did. Bouncing recovered 2688.00 coming out of the bias environment. The balance of the session fluctuated there. No action.

Trending back down Tuesday would still target 2679.00 and 2675.50. but the drop would no longer be done a constrained context. Still unlikely to trend down, but more capable. Gapping up above 2692.50 is probably the only path higher, but it could be satisfied quickly at new highs up to 2703.00.

As I pointed out in my previous blog post, Bitcoin could be in for more selling this weekend. I’ll update the blog with any relevant observations. Meanwhile, have a safe and Merry Christmas…

Rod

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