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No excuse. Yesterday afternoon”s hesitation – If, Then… Market Timing

No excuse. Yesterday afternoon”s hesitation

By Rod David | August 7, 2014 - 9:26 am

No excuse. Yesterday afternoon”s hesitation seemed to ruin the morning”s party, which had rallied from its opening tick until noon. Actually, yesterday afternoon”s hesitation corrected that upleg, so that it could resume this morning. And it is trying. Yesterday”s highs were probed an hour ago. Now another reaction down has recovered.

Speculative stocks that tested support yesterday will have the best opportunity to rally with the market today. Those that don”t rally off of support will decline first and the most when the broader market turns back down.

REMINDER: The weekly post-close Livedesk Unlimited begins at 4:30 ET today. We”ll review the market”s bigger picture, the MJ sector, and individual stock picks from both you and from me — as always, all including charting and technical analysis technique.

Enjoy!

Posted in Bigger Picture