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Pre-close View… So, what’s new? – If, Then… Market Timing

Pre-close View… So, what’s new?

By Rod David | June 15, 2016 - 3:19 pm

Unsurprising FOMC statement enables range to persist.

Today’s likeliest scenario has been tracked. So far.

Optimistic firming or rallying preceded the FOMC news. Volatility evaporated ahead of it. The news triggered an initially favorable knee-jerk reaction up. Fully discounting the news reacted back down to a fresh relative low.

Still awaiting the template’s next stage — trending back down well into yesterday’s range. Potentially through it.

This last stage has been delayed for awhile. Back under 2070.50 would target at least 2063.50. But back above 2073.75-2075.25 would target a fresh session high attacking 2080.75.

Posted in Pre-close View, S&P