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

Pre-market Tour (recording & summary)

By Rod David | December 29, 2015 - 9:20 am

The 5-point pullback from touching Thursday’s 2059.75 high was recovered to fresh highs. Much higher fresh highs, at 2063.75. Now a two-week old pivotal high is being tested. Testing it post-open but not exceeding it would be likely to back-and-fill this morning back down to the 2055.00 area.

That’s not the bearish template. Backing-and-filling would help to siphon off excess optimism and to find buyers below. The bearish template would fail to hold the 2055.00 area as support, and the 2050.50 bias-up signal, while plunging into negative territory.

Trending sharply and relentlessly overnight leaves the door wide open to any near-term resolution.

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

Posted in Pre-market Tour, S&P