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Mid-day Update… Adrift? – If, Then… Market Timing

Mid-day Update… Adrift?

By Rod David | August 25, 2016 - 12:43 pm

SPECIAL NOTE: I will be away from the screens on the afternoons of both Thursday and Friday, this week and next, Thank you for allowing me to be of personal assistance in a family matter.

The 2177.00 minimum objective to the first upleg was met at the morning bias environment’s high. Its reaction down to 2172.50 is bouncing, now attacking 2176.00. This morning’s 2178.75 objective remains outstanding, but a fresh low under 2172.50 would be difficult to recover.

Assuming no fresh low, then the balance of the session can extend up to 2178.75.  Closing back under 2177.00 would help to confirm the trend has reversed down. Closing any higher could bounce further, but not necessarily to a new high.

Posted in members-only, Mid-day Update, S&P