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

Market Wrap (recording & summary)

By Rod David | May 16, 2017 - 4:32 pm

WARNING: The first 5 minutes of today’s recording is almost inaudible. Raising volume on your computer will work. BE SURE TO LOWER IT AGAIN BEFORE THE 5:30 MARK.

Probing fresh highs at Tuesday’s open was rejected, as has been expected. Rejected immediately, which is much quicker than has been expected. So, maybe that’s not quite the new highs we can expect.

The reversal down was relatively deep, probing under overnight lows. It was also rejected, bouncing to close barely negative.

The “ineffectual pessimism” keeps alive potential for probing higher, still. Unfinished business below as left outstanding at 2392.75, and might alter the course higher — or else enable its bearish resolution.

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