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Pre-close View… Last chance to grab the golden ring. – If, Then… Market Timing

Pre-close View… Last chance to grab the golden ring.

By Rod David | October 9, 2015 - 3:01 pm

Window re-opens for a rally leg.

The offsetting test of this morning’s 1999.50 bias-down signal was fulfilled while exiting the noon hour. Sellers haven’t had any other effect since then, and now the afternoon’s bias environment is almost finished lapsing.

A rally leg is vulnerable to extending higher so long as 2004.25 holds as support. Actually extending higher through the 3:10-3:20 timing window would be very helpful confirmation. Regardless, the only unfinished business is above.

The decline is vulnerable to resuming, but there’s no inflection point to signal it. But probing under 1999.50 through 3:10-3:20 would be the last opportunity for sellers to be taken seriously today.

REMINDER: THERE IS NO SATURDAY REVIEW THIS WEEKEND. BE SURE TO ATTEND OR TO WATCH TODAY’S POST-CLOSE MARKET WRAP FOR A BIGGER PICTURE REVIEW.

Posted in Pre-close View, S&P