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Post-market Wrap (recording & summary) – If, Then… Market Timing

Post-market Wrap (recording & summary)

By Rod David | April 25, 2016 - 4:26 pm

The vulnerability to fresh session highs never materialized. At least, not in time to be reliable enough for a hold-long. Monday’s last-minute surge offered a glimpse of the seemingly relentless surge, albeit only to probe above the morning’s 2080.50 high.

Delaying the recovery has created “ineffectual pessimism” from Monday’s session. Gapping down, probing fresh lows, and spending the entire session in negative territory is pessimism. Not closing under a prior low is ineffectual. The upside vulnerability remains alive, now by the proxy of gapping up Tuesday — i.e. trending up overnight.

Monday afternoon’s rally didn’t gain traction, so resuming the rally Tuesday — the rally that had peaked last Wednesday — requires gapping up. Any further delay to resuming the rally should extend the decline, the decline that began last Wednesday.

Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.

Posted in Market Wrap, members-only, S&P