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

Post-market Wrap (recording & summary)

By Rod David | May 5, 2016 - 4:28 pm

Had Wednesday night’s rally to 2059.50 been done intraday, then all available buying pressure would have been expended without gaining traction for the effort. Pre-open action was attacking the morning’s 2055.50 bias-up target, and exceeding it post-open could have renewed the bias-up signal. Either of those setups could have marginalized sellers.

Neither of which prevents recovering from lower lows. But both suggest that lower lows are still coming. Gapping up Friday above Thursday’s highs, if not also its pre-open highs — similar to Thursday — could still reject the decline. Otherwise, trending down into and also possibly out of the weekend is likely.

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