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Pre-close View… Capitulation? – If, Then… Market Timing

Pre-close View… Capitulation?

By Rod David | September 9, 2016 - 3:53 pm

Probing fresh lows, but only steadily.

Trending down from the noon hour’s consolidation above 2140.00 slid to 2127.00 during the bias environment. The slope was steep, but not capitulative. And that was the decision made by not bouncing out of the noon hour.

The position-squaring window broke lower, but only to 2124.25 where 1-minute RSI is diverging positively. A hold-short is compelling — as compelling as possible for a weekend — so long as 2133.00 isn’t being recovered within 3 minutes of the cash session close at 3:57 ET.

REMINDER: We DO have a Saturday Review this weekend. Details will be sent overnight.

Posted in members-only, Pre-close View, S&P