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Mid-day Update… Not soft, if not a landing. – If, Then… Market Timing

Mid-day Update… Not soft, if not a landing.

By Rod David | February 2, 2016 - 1:05 pm

Bouncing from fresh session lows.

This morning’s range was essentially centered around 1904.50. A late recovery effort twice tested 1911.00, but collapsed to new lows at noon. Its drop to 1896.75 has been retraced to 1904.50.

That’s beyond optimal for maintaining the decline’s momentum. So, resuming the decline should be aggressive and pretty soon. Otherwise, bouncing any higher could isolate the probe under this morning’s lows, while reversing momentum up.

Bottoming here could bounce to 1913.00 and 1924.00. Lower lows would likely test “lower prior highs” just under 1890.00. Extending under 1886.00 could soon test 1869.00. .

Posted in Mid-day Update, S&P