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Pre-close View… No rush. Not yet. – If, Then… Market Timing

Pre-close View… No rush. Not yet.

By Rod David | December 7, 2015 - 3:38 pm

Consolidating the morning slide. Still.

The morning’s slide to 2065.00 fulfilled the correction’s objective. The noon hour was allowed time for consolidating before trying to recover. The afternoon bias environment was allowed that time, too. And apparently also the balance of the day.

The rally hasn’t yet resumed, but the assumption continues to be that it will resume. Monday morning’s correction of Friday afternoon’s rally is done, and there was no requirement to resume rallying today.

But without yet trending again today, Tuesday’s open should gap open to trend during the morning. Trending in either direction without gapping would be suspicious.

Posted in Pre-close View, S&P