Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
Market Wrap (recording & summary) – If, Then… Market Timing

Market Wrap (recording & summary)

By Rod David | March 16, 2018 - 4:32 pm

Friday’s expiration began the day by extending Thursday’s late recovery from 2745.75 to 2755.00.
Another 10 points higher into the morning bias environment exit probed the morning’s bias-up target yo to 2766.00, and proved to be the session high. Trending back down probed 1 point under 2755.00 through the afternoon bias environment exit, and proved to be the session low. The balance of the session retraced the high-to-low by 61.8% up to 2762.00.

That was almost a close back above 2758.00, except the final 2 minutes plunged 9 points to 2753.00. Its reaction only touched 2758.00. Not that expiration’s close isn’t the least relevant for predictive value. Much more relevant is that Friday was an Inside Day, and that price action has ranged choppily sideways since Wednesday afternoon broke back under 2770.00 and 2758.00. An accumulative pattern may be forming to launch another upleg.

None of which matters without a trigger. Or, with too much time elapsing without pulling a trigger. Still in the range through Monday morning would undermine the accumulative action. And after avoiding a WedEX signal, Friday’s range bound expiration doesn’t make Monday morning any likelier to trend.

  • Details and other markets coverage are discussed in the post-market Wrap recording here.
  • SATURDAY REVIEW BEGINS AT 9:30 AM ET… ITS LINK WILL BE  EMAILED IN THE MORNING.
Posted in Market Wrap, members-only, S&P