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

Pre-market Tour (recording & summary)

By Rod David | August 5, 2016 - 9:17 am

The Employment Situation report was greeted at 2162.00. A blip-down spiked back up to fresh highs at 2167.50. Its 4-point reaction down was recovered as quickly, to test 2168.00. And that’s essentially where the open is being greeted, gapping up above yesterday’s highs, which would be bullish if maintained through the open.

Extending higher at all today would likely extend a lot higher, as the market becomes comfortable that rate hike odds are factored in. If they’re not, and if post-open action can’t get out above 2168.00 through the opening 15 minutes, then a substantial reversal down would more likely define the session.

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

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