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Pre-close View…Recovery undermined. – If, Then… Market Timing

Pre-close View…Recovery undermined.

By Rod David | January 25, 2016 - 3:45 pm | 4

Back to the recovery’s original attraction.

Last Wednesday’s stunning intraday reversal had recovered from sharply lower lows testing 1804.00 back up to test 1869.00.

Trying to extend higher Thursday had netted no gain. Friday’s gap up netted no gain through its close, either, after testing 1902.00.

Now this morning’s slide has rejected a noon hour bounce to resume the slide… back down to 1869.00. That’s some recovery, once again no higher than within minutes of at its first close.

Sellers gained traction, making lower lows likely Tuesday, unless the open were to gap up enough. Regardless, no gapping down today still suggests the later selling is counter-trending.

Posted in Pre-close View, S&P

4 Comments

  1. casjf on January 25, 2016 - 3:50 pm at 3:50 pm

    When you say later selling is counter-trending, do you mean trending for recovery or against recovery?



    • Rod David on January 26, 2016 - 7:20 am at 7:20 am

      The reference point is the next likely objective. So, the next likely objective was to extend the rally, whether immediately or after a delay. The delay would be considered counter-trending.

      So long as that delay remains within its limitations, the trend of a corrective rally is likely to resume. And after resuming, the bigger decline can resume, and can resume being the trend.



  2. Josey on January 25, 2016 - 6:25 pm at 6:25 pm

    Hi Rod,did you do a post market wrap today?