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Pre-market Tour (recording & summary) – If, Then… Market Timing

Pre-market Tour (recording & summary)

By Rod David | May 13, 2016 - 9:17 am

Deja vu… The recovery from probing fresh lows overnight made it back up to 2059.50. That’s above the 2057.00 line in the sand for compartmentalizing the overnight probe of fresh lows. It’s also resistance, and it has pushed back to attack 2053.00.

Seems familiar. Yesterday’s overnight rally had deposited Thursday’s open at resistance whose recovery would have been bullish — only for post-open action to steal away the opportunity.

If there’s a bullish difference today, it’s that the push back has come pre-open, more pessimistic compared to yesterday. But that doesn’t lessen the requirement for a bullish scenario to quickly recover 2057.00, or at least to quickly reject a post-open dip.

Details and other markets coverage are discussed in the pre-market Tour recording here.

Posted in members-only, Pre-market Tour, S&P