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Mid-day Update… Stuck at the high. Yesterday’s high. – If, Then… Market Timing

Mid-day Update… Stuck at the high. Yesterday’s high.

By Rod David | September 21, 2018 - 1:56 pm

The attraction is holding back today’s highs.

This morning’s 2940.50 bias-up signal triggered cleanly. The attempt to invalidate it failed, while probing back under yesterday’s high, and 2947.50 is now “unfinished business.”

A bounce into the noon hour reached only 2944.00 before reversing back down. And now the afternoon’s 2937.75 bias-down signal is being touched. If  bullish WedEX isn’t influening price higher, then it should at least attract this wrong-way trending back up.

Today’s WedEX has not yet done either.

Back above 2941.25 would start to signal another recovery attempt underway. Otherwise, fresh session lows could test yesterday afternoon’s last relative low at 2936.00 just as noise

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