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Overnight action had initially ranged – If, Then… Market Timing

Overnight action had initially ranged

By Rod David | June 19, 2015 - 9:24 am

Overnight action had initially ranged narrowly sideways. The rally it launched up to 2117.75 consolidated there until just before we began this morning”s pre-market Tour. Then price began diving, soon retracing back within the overnight narrow range.at 2111.75.

Just holding 2112.50 at the open would make post-open trending credible. Originating a rally from any lower could still extend, but probably not directly. So, quickly recovering 2114.75 is more likely to be confirmed above 2116.25 as extending higher, but delaying a bounce to 2114.75 would find its resistance to be more challenging.

Trending down today would all but require trending down through the opening 15 minutes. Here”s more detail in the Tour”s recording:
https://roddavid10.mitel-nhwc.com/join/tyfvbsm

Posted in S&P