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Post-open Review… Still holding out. – If, Then… Market Timing

Post-open Review… Still holding out.

By Rod David | September 25, 2017 - 10:28 am

Bouncing off of prior lows, instead of breaking them.

The overnight slide down to 2495.00 had bounced up to 2499.00. All of which was retraced to pierce a fresh low. The open was greeted once again at 2495.50 support, for which there is no bullish reason to be revisiting.

But 2495.50 still hasn’t broken lower. The opening 15 minutes ranged back up to 2497.50. So did the next 15 minutes.

Breaking higher avoided triggering the 2496.00 bias-down signal at 10:15, putting into play an offsetting test of the 2503.00 bias-up signal. Already, 2500.00 has been touched. The higher objective remains in-play so long as 2497.00 holds as support.

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