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Pre-close View… Slow drift. – If, Then… Market Timing

Pre-close View… Slow drift.

By Rod David | December 24, 2015 - 12:28 pm

Morning consolidation resolving up. While it still can.

This morning’s reaction down from 2057.00 to 2051.00 ended the bias environment ranging narrowly around the 2054.00 open. Now the market is re-focused on the business at hand as the early close looms.

Volume is evaporating, so no counter-trend sponsorship is stirring, all through the house. Yesterday’s overbought RSIs are now neutralized. The 2058.00-2060.00 objective has been pierced.

There is no afternoon bias parameter or signal. We will conduct a brief post-market Wrap. If I don’t see you there, have a wonderful holiday weekend — the chaRTroom will re-open Sunday night for Globex.

Posted in Pre-close View, S&P