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

Market Wrap (recording & summary)

By Rod David | April 11, 2019 - 4:32 pm

Retesting and re-retesting Monday night’s 2900.00 high ahead of Thursday’s open makes an eventual probe only a formality. Which might not seem credible after being under pressure throughout Thursday’s session. And which might be rejected anyway if Thursday’s 2886.00 support is breaking lower through Friday’s open.

Meanwhile, Thursday was the seventh consecutive session of intraday ranging, supported at or above 2880.00 or 2886.00. Extended narrowing ranges become vulnerable to breaking falsely in one direction before reversing more substantially in the opposite direction.

So, fresh highs up to 2902.00-2911.00 would be vulnerable to reversing down, and dipping 2874.00-2876.00 could snap back up above highs. Testing either limit without reversing would become more vulnerable to extending in that direction, especially being a Friday.

Details and other markets coverage are discussed in the post-market Wrap recording here.
Monitor overnight Globex trading in the chaRTroom here.

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