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

Market Wrap (recording & summary)

By Rod David | March 8, 2019 - 4:32 pm

Gapping down ahead of 2 days illiquidity can get ahead of itself, which seems to have been the case Friday. The first hour’s five 15-minute checkpoints overlapped the same relevant level to signal a Dry Cleaners morning. So, trending was limited to retracing the morning’s high back down to the morning’s low, and then to surging through the close to fresh session highs at 2752.00. Friday’s 2732.00 gap down under all prior lows will want to be retested from above, which hasn’t yet been done since probing back into a prior session’s range. That would be vulnerable to extending under Friday’s test of 2727.25 down to 2720.50 — possibly compensating for their delay by tumbling more aggressively or probing more deeply Monday.

Details and other markets coverage are discussed in the post-market Wrap recording here.
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Posted in Market Wrap, members-only, S&P