Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
S&P index futures rallied overnight, – If, Then… Market Timing

S&P index futures rallied overnight,

By Rod David | July 30, 2014 - 9:17 am

S&P index futures rallied overnight, retracing 61.8% of yesterday”s drop. That”s natural resistance. And it has resisted. Now about 15 minutes prior to this morning”s open, futures are cutting back some of the gains. This pattern should resume the rally without much delay past the open to avoid dipping back to yesterday”s lows.

Resuming yesterday”s sell-off wouldn”t be helpful to the MJ sector. But rejecting it by quickly extending the gap up would at least get the broader market”s drama out of the way. The sector is getting a lot of attention this week — both good, and also bad — so, stocks not performing well could be taken as a warning.

Check this thread in the Activity Feed for my post-open observations. Be ready for today”s Livedesk at 10:45 ET — I”ll send a reminder.

Enjoy!

Posted in Bigger Picture