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Pre-close View… Last chance to floor the gas. – If, Then… Market Timing

Pre-close View… Last chance to floor the gas.

By Rod David | January 11, 2017 - 3:21 pm

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

The final hour’s entry is probing fresh afternoon highs up to 2267.50. That’s above the bias environment’s high. But the rally isn’t gaining traction because the noon hour’s 2268.00 high is higher.

Recovering 2268.00 is the final hurdle to rallying into the close. Recovering it through 3:20 would have been preferable to only piercing it, so back under 2266.00 would suggest no recovery.

Rallying further to close above this morning’s highs would suggest the pullback did end with Wednesday morning’s low. And having ended the pullback, new highs would be in-play. Back under 2263.00 would instead suggest the pullback is extending down into tomorrow afternoon.

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