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

Pre-market Tour (recording & summary)

By Rod David | August 8, 2016 - 9:19 am

The pullback from touching 2183.00 overnight has extended down to touch Friday’s 2178.50 “lower prior high.” Its obligatory support hasn’t yet produced much of a bounce. Extending down deeper to greet the open back under Friday’s highs could isolate the overnight optimism and quickly extend down more deeply, setting a negative tone for the day. Bouncing instead to test last night’s 2183.00 “new Globex trend extreme” could neutralize its attraction — possibly also the 2185.00 bias-up target — should still be viewed cautiously for not attracting new strong-handed buyers, which would lead to collapse. Avoiding either of those scenarios would simply be bullish.

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

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