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

Post-market Wrap (recording & summary)

By Rod David | July 1, 2016 - 4:54 pm

HAVE A SAFE AND HAPPY INDEPENDENCE DAY!

We started the Market Wrap before Friday’s close, and expanded it to cover the bigger picture since there is no Saturday Review this weekend.

Thursday’s last hour had hovered pessimistically short of 2089.75 “higher prior lows” from the pre-Brexit Thursday highs. Friday did the opposite by immediately surging higher to attack 2101.00. Timing windows recovered 2089.75 for long enough to further reward the rally with new highs. That means probing above the prior Thursday’s post-close 2119.50 high, presumably to 2125.25. A corrective dip isn’t required, but would have potential to 2076.00 or to 2071.00 without yet suggesting that Monday’s 1981.50 lows might be retested first.

Details and other markets coverage are discussed in the post-market Wrap recording here (which includes the bigger picture review).

Globex will re-open normally Sunday evening at 6:00 ET and trade through 1:00 PM on the 4th, then re-open at 6:00 ET Monday evening.

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