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

Post-market Wrap (recording & summary)

By Rod David | September 9, 2016 - 4:40 pm

Friday’s session finally provided a capitulative leg, the last half-hour’s 17-point slide into the close. It was only slightly larger than the 15-point break out of the noon hour, and only slightly steeper. But any hesitation was narrow and momentary.

While capitulation is known for accompanying bottoms, that’s not usually the case on Fridays. And anyway, capitulations can form a bottom’s entry, but the bottom must still have time to form. That may be moot, since the pattern on a Friday is likelier to be duplicated on Monday — gapping down and trending down sharply.

Gapping up is possible, but not enough to reverse the trend up. Extending down could find a near-term low, or else put Friday’s decline to shame. We’ll discuss the signs for each, and their potential, at the weekend’s Saturday Review.

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