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

Market Wrap (recording & summary)

By Rod David | April 6, 2018 - 4:32 pm

Friday afternoon’s 50-point plunge exceeded the overnight 40-plunge. That had been triggered by the evening announcement of $100m more in tariffs against China. The afternoon plunge was triggered by the impending weekend illiquidity. The pattern’s resolution down continues to be likeliest.

There is no “unfinished business above,” and resuming the decline could target another 30 points lower and attack prior lows. And there’s no bullish reason to attack prior lows. With sellers having gained traction Friday afternoon, gapping up more than 30 points Monday may be the only way to avoid extending the decline.

  • Details and other markets coverage are discussed in the post-market Wrap recording here.
  • I’LL SEND THE LINK TO SATURDAY REVIEW EARLY IN THE MORNING.
Posted in Market Wrap, members-only, S&P