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

Post-market Wrap (recording & summary)

By Rod David | October 28, 2016 - 5:28 pm

Friday put the “FBI” in Fibonacci…

Bad news for Hillary Clinton triggered a 23-point afternoon plunge. Its origin was a little premature, enough so that its recovery could have trapped shorts for being weak-handed, and formed a durable bottom. Trending down relentlessly into the close would have been another form of weak-haned sponsorship, but that was avoided, too.

Instead, the plunge was retraced by 61.8% which also tested Wednesday and Thursday’s “higher prior lows.” Both are natural corrective limits prior to resuming the breakout, and producing new lows. Being the fourth consecutive lower close makes lower lows likelier than a recovery, and dooms to failure an immediate recovery attempt.

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

We’ll review the bigger picture and any stock chart analysis requests during this weekend’s Saturday Review, which begins at 9:30am ET. We skipped last week and will skip next week, so be sure to join us. Its link will be sent to you overnight.

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