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

Post-market Wrap (recording & summary)

By Rod David | January 28, 2016 - 5:11 pm

Perhaps Thursday afternoon was paralyzed by anxiousness ahead of AMZN’s post-close earnings. The range formed an Ascending triangle between 1878.00-1892.00. The range’s lower-end was attacked suddenly after the cash session close when AMZN announced a big miss that pummeled its stock.

All of which would be bullish. Broader markets don’t react durably to an individual stock. Thursday afternoon’s selling pressure has already been expended in inhibiting higher highs. Less was available to react any deeper on the actual news.

So, potential remains alive for probing above Wednesday’s highs to test 1910.00 — alive, if not necessarily in-play, and if vulnerable to reacting down sharply when that test is done. Probing lower first, anyway, would still have a recovery path available.

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, S&P