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

Pre-market Tour (recording & summary)

By Rod David | November 3, 2015 - 9:16 am | 3

The overnight pullback extended down to 2089.00. That’s a test of this morning’s 2089.50 bias-down signal, and a it held a retest after bouncing to 2091.00. That formed a Double Bottom, which has bounced to attack 2094.00.

So, back to rally mode, rewarding the traction gained by yesterday’s rally? Back under 2091.75 could get slippery, and extend down to 2088.00. Exiting the open below it could undermine yesterday’s upward traction.

Details and other markets coverage are discussed in the pre-market Tour recording here:
https://roddavid10.mitel-nhwc.com/join/htpkwjy

Posted in Pre-market Tour, S&P

3 Comments

  1. Steve Marriott on November 3, 2015 - 9:45 am at 9:45 am

    With the opening gap down this morning (albeit fairly nominal), does this open the door for a ‘key reversal’ (or is it a ‘pivot reversal’?) – opening with a gap down, probing a new high, then closing below a relevant level. If so, what would be the relevant level in this scenario…2088?



    • Rod David on November 3, 2015 - 10:46 am at 10:46 am

      Probing above yesterday’s new trend high after gapping down, and then closing back under the open’s lows, would form a Pivot Reversal session.



  2. Steve Marriott on November 3, 2015 - 9:53 am at 9:53 am

    Disregard. I listened a couple more times to the related comments in the PMT recording, and conclude that you pretty much said that closing below 2088 would serve as a rejection of the market’s closing above that level yesterday…especially (and perhaps only if?) yesterday’s highs had been probed in the process.