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 | May 15, 2017 - 4:32 pm

Monday’s new high close closed at the 2400.00 prior intraday high, after probing above it intraday. Reversing down immediately would not leave “unfinished  business above” outstanding.  Back under 2397.00 would at least suggest a detour underway.

Reversing down immediately is a vulnerability, but it isn’t likely. At least intraday probing of fresh highs remains likely, presumably including 2405.00, if not also 2415.00.

Only eking out the new high close, and sliding post-close, suggests that pessimism remains alive and well enough. Which is potentially bullish from a contrarian perspective. Another new high close isn’t required, but neither is it prohibited.

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