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Pre-close View… Dangling over the crevasse. – If, Then… Market Timing

Pre-close View… Dangling over the crevasse.

By Rod David | January 9, 2017 - 3:15 pm

REMINDER: MARKET WRAP BEGINS AT 3:33pm ET.

The afternoon range probed lower to test 2264.00. Consolidating back up to 2266.00 for the past 60-90 minutes just missed an opportunity to reverse up. But the final hour wasn’t entered high enough.

Now the 3:10-3:20 proxy window is opening. Extending above 2266.75 could still reverse up. And it had better reverse up quickly, because downtrending into Wednesday morning is growing in likelihood.

Any credible rally should recover to fresh post-open highs above 2271.00. Unfinished business above at 2275.50 and a new trend high close remain outstanding regardless.

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