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REMINDER #1: I”ll be in – If, Then… Market Timing

REMINDER #1: I”ll be in

By Rod David | April 2, 2015 - 6:21 pm

REMINDER #1: I”ll be in the chaRTroom during tomorrow”s Employment Situation report. Before and after it, too… REMINDER #2: Being a holiday weekend, there is no Saturday Review…

Thursday”s open rallied early and aggressively, then substantially. And then it was done. It served the purpose of creating room to absorb selling pressure, without that selling pressure gaining traction. And there was selling pressure. But the selling pressure only tested support momentarily before reversing back up to a prior high.

Buying pressure was otherwise restrained, which can be bullish from a contrarian perspective. It doesn”t get any benefit of the doubt either way ahead of an Employment report. But a knee-jerk reaction down will need to take out 2045.00 to begin making a downleg possible. Closing above 2064 — or above 2070.50 if tested — would be bullish.

Happy Easter and Happy Passover!
Here”s the recording of Thursday”s post-market Wrap:
https://roddavid10.mitel-nhwc.com/join/tybryzv

Posted in S&P