Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
Post-market Wrap (recording & summary) – If, Then… Market Timing

Post-market Wrap (recording & summary)

By Rod David | July 28, 2016 - 4:25 pm

Did Thursday recover from 2153.50 to 2167.50 in anticipation of favorable earnings surprises after the close from AMZN and GOOG? Or, was the recovery inhibited by the earnings timing? Probing 5 points above the morning’s high still stopped 1 point short of the 2168.50 overnight high. Pessimism is potentially bullish from a contrarian perspective.

Greeting Friday’s open at or above 2168.00-2169.00 wouldn’t be a first. There are 4-5 prior instances in the past week. Extending above it would be a second. Sunday night did it. But still being in proximity of fresh highs at 2175.50 still makes its test the likelier resolution.

Thursday’s rally didn’t gain traction, so extending higher Friday morning probably depends on gapping up. Assuming fresh highs are even probed (for a change), we’ll be looking at the close for a new trend high, or not. It has special meaning on Fridays.

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