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
Pre-close View… Ineffectual pessimism. – If, Then… Market Timing

Pre-close View… Ineffectual pessimism.

By Rod David | October 3, 2016 - 3:24 pm

Hovering at the lows without breaking lower.

Trending wasn’t likely today due to the Jewish holiday limiting the day’s volume and sponsorship. So, testing a relevant support below isn’t remarkable. Its test isn’t required to react up, let alone to be replaced by a bounce. But that was tried anyway.

And it’s not exactly succeeding. More optimism would enable a bigger bounce. So, pessimism is  winning out. And that pessimism is potentially bullish from a contrarian perspective.

Breaking lower would be unlikely to do more than retest the noon hour’s 2146.75 lows. But breaking higher has room up to unchanged at 2160.00 before becoming trending. Again, though, there’s no requirement to trend at all, or even a likelihood before Tuesday.

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