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Post-open review… Rejection rejected. – If, Then… Market Timing

Post-open review… Rejection rejected.

By Rod David | July 24, 2015 - 10:39 am

Opening plunge has extended to fulfill half of the next lower target.

The pre-open slide from the overnight rally had extended down to 2095.50. The open plunged to 2091.25. A reaction up touched the 2096.25 bounce limit, refueling sellers for another plunge.

The 2093.25 bias-down signal was broken at 10:15 and is being probed to fresh lows down to 2087.00. The 2086.75 bias-down target is in-play, but having come within 3 ticks neutralizes it from becoming “unfinished business above” if left outstanding.

The remaining opportunities to reject yesterday”s close under 2099.25 aren”t only shrinking in number, but also in plausibility. Probing new multi-session lows ahead of the weekend isn”t often reversed coming out of it. The next lower objective at 2077.00.

Posted in Post-open Review, S&P