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… One more for a gapper. – If, Then… Market Timing

Pre-close View… One more for a gapper.

By Rod David | April 27, 2016 - 3:15 pm

Maintaining fresh highs could form a hold-long setup.

The FOMC news was a knee-jerk reaction down to 2077.50. Originating between 2081.75-2083.75 made the reaction either way likely to be false. In fact, its reversal recovered 2081.75-2083.75 to signal momentum reversing up. Follow-through extended to 2090.25.

Retracing down to 2083.75 still exited the bias environment above the noon hour’s high. The final hour wasn’t entered higher, but trending up to fresh highs through 3:10-3:20 would confirm the rally is gaining traction.

The rally is at least trying to resume. Fresh highs are being probed up to 2092.25. Potential to 2110.00 remains alive, but just closing above 2095.00 would signal the rally has resumed.

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