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

Post-market Wrap (recording & summary)

By Rod David | July 29, 2016 - 4:43 pm

Friday morning’s probe above Thursday’s highs must fail. Thursday’s rally had gained no traction for its effort, and only gapping up above it would have been durable.

Friday Factors inhibited trending back down. Probing a fresh high Friday afternoon would have all but required snapping back down already.

Probing fresh highs Monday can’t be discounted, but would be no different than if done Friday afternoon. Except that the consequence for weak-handed buying is now greater. — not only retracing back into Thursday’s range, but retracing its lows.

Meanwhile, despite probing fresh intraday highs in the afternoon, a Friday breakout was avoided. Not for lack of proximity, as the entire afternoon was there. But the cash session close was under prior highs, so no additional higher close is required.

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

Join us for Saturday Review to game out possible open’s and their resolutions. We’ll also review any stock chart requests from subscribers. Log-in by 9:30 am ET  to the chaRTroom here.

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