Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
Post-open Review… Sellers balk. – If, Then… Market Timing

Post-open Review… Sellers balk.

By Rod David | February 2, 2017 - 10:26 am

Pre-open and post-open selling is absorbed.

REMINDER: I WILL BE UNAVAILABLE AFTER NOON TODAY, FOR THE BALANCE OF THE SESSION. THERE WILL BE NO MARKET WRAP.

The overnight drop bottomed within 2 ticks of this morning’s 2264.00 bias-down target. Its recovery peaked at this morning’s 2270.75 bias-down signal. The open’s dip to 2267.00 was recovered back up to 2270.75, and then through it.

Fresh highs at 10:15 filled the gap back up to yesterday’s 2275.00 close to within 1 tick. That was the minimum reward for not selling off through the open. Additionally, holding a test of the bias-down signal has put into play an offsetting test of the 2278.75 bias-up signal.

Back under 2270.75 at 10:30 would invalidate the bias signal. No requirement then to decline, just a greater vulnerability. Otherwise, sellers could be marginalized for the day.

Marginalized doesn’t mean dormant. Sellers, or buyers, may yet launch substantial efforts today. Thursday afternoons ahead of a Friday’s Employment Situation report often become paralyzed by anxiousness. But the opposite today wouldn’t be surprising since volatility preceding yesterday’s FOMC wasn’t very restrained. Neither was volatility following it, already makes Friday interesting.

Posted in members-only, Post-open Review, S&P