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Pre-close View… What’s the last thing you’d expect? – If, Then… Market Timing

Pre-close View… What’s the last thing you’d expect?

By Rod David | November 24, 2015 - 3:10 pm

Big rally, deep correction, complete recovery… time to rest?

Low-volume environments are difficult to generate sponsorship for trending. They’re also difficult to generate counter-trend sponsorship. Both rules will apply more so tomorrow than today. But anticipating them may be what prevented extending down this morning.

It’s just a little optimistic — buying from so low so quickly and so much for so long. Not that the news should have been taken any more seriously than it was. It wasn’t earnings or liquidity related, so its effect was exacerbated. But the timing and corrective bias allowed more selling.

Probing fresh highs through the 3;10-3:20 timing window today (about to begin) could push the rally into Wednesday and Friday. Otherwise, just ranging flat, let alone lower, could prevent a Friday rally.

Posted in Pre-close View, S&P