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SPECIAL SESSION TONIGHT – If, Then… Market Timing

SPECIAL SESSION TONIGHT

By Rod David | January 18, 2016 - 10:58 am

ALL SUBSCRIBERS ARE INVITED:
Bigger Picture Review in the chaRTroom at 6:00pm ET.

Well, that muster drill turned out to be a waste of time. We’re docked and debarking, and re-entering the real world.

The same verbiage could be applied to price action since opening last night. Friday afternoon rallied back from 1849.50 to threaten the morning’s 1881.00 high into expiration (docked). Sunday night’s gap down to 1860.00 was recovered ahead of Europe’s opens, and then extended to probe Friday’s high up to 1890.00 (debarking).

The recovery wasn’t led by Europe’s strength. Europe’s strength was led by Crude Oil’s recovery, back to unchanged after gapping down sharply. But the gap’s resistance pushed back, and 1868.00 is being tested as support (re-entering the real world).

US markets are closed, but Globex is open until 1:15pm ET. Then it re-opens at 6:00pm ET, and we’ll see whether the market’s muster drill last week was also a waste of time.

You can view price action now by CLICKING HERE. Also, join us there at 6:00pm ET for a special Bigger Picture Review. I’ll send out is recording this evening, with the overnight chaRTroom link

Posted in Bigger Picture, S&P