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Mid-day Update… New highs. – If, Then… Market Timing

Mid-day Update… New highs.

By Rod David | March 1, 2017 - 1:36 pm

Morning AND noon hour surges maintained.

The first hour’s follow-through of the overnight rally had touched 2389.25. Its 4-1/2 point pullback was recovered to 2394.25 before noon. And then a surge at noon touched 2398.75.

Flat-to-lower since then hasn’t even threatened to reverse the noon surge.Back under 2394.25 would start to signal a deeper dip targeting 2387.25-2388.25.

A fresh high of some sort is likely tomorrow. So, a pullback today would be a compelling long-entry. Otherwise, breaking back above 2398.00 would be compelling, too, but also more subject to whipsaw.

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