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Post-open Review… Holding up is holding out. – If, Then… Market Timing

Post-open Review… Holding up is holding out.

By Rod David | October 23, 2015 - 11:19 am

Hovering choppily above the gap up.

I had suspected the pre-open rally was not durable. I had wondered whether its high could be retested before trending back down. I don’t think the 2065.00-2066.00 pullback limit was rejected and recovered, but tests of the 2063.50 sell signal only overlapped it before reacting up.

The range is centered around 2063.50 / 2065.00-2066.00. The morning seems committed to maintaining its attraction, if not also remaining within it — instead of trending back above it or below it.

2063.50 support has been chipped away, but not breaking lower by 10:30 makes it unlikely to break lower before 11:30.  So, trying anyway to break it between 10:30-11:30 should be punished by an offsetting fresh post-open high.

Should be. Normally would be. This is a Friday, so be aware that Friday timing windows can be fungible. And 2063.50 is being probed again…

Posted in Post-open Review, S&P