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

Post-market Wrap (recording & summary)

By Rod David | November 15, 2016 - 4:26 pm

The ongoing delay in repeating last Wednesday night’s test of 2180.00 was resolved finally during Tuesday afternoon’s last 60-90 minutes. The no-bias environment had barely lapsed (and really hadn’t yet) before extending an earlier buy signal at 2167.00 up to 2178.00. Post-close action jumped to within 1 tick of 2180.00.

But buyers gained traction for their efforts, so trending up further Wednesday morning is likely. Trending up can begin from gapping down, but should nevertheless last the morning and probe fresh highs. Fresh highs should include 2185.00-2186.00, with room for noise up to 2192.00.

Inverting the signal requires forming a “session-long decline” setup by gapping down under 2167.00. And maintaining it. Not impossible, not even very unlikely — only a little of both.

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