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Testing yesterday morning”s 2068.50 bias – If, Then… Market Timing

Testing yesterday morning”s 2068.50 bias

By Rod David | June 30, 2015 - 9:27 am

Testing yesterday morning”s 2068.50 bias environment low as resistance had reacted down to within 1 tick of this morning”s 2059 bias-up target. It served as support to try resuming the rally, but that has only attacked the overnight high. Back above 2067.50 through the open could still suggest the overnight rally has resumed, which would have other bullish implications. But not holding 2060.75 as support would suggest instead that the overnight rally had expended all available buying pressure. And, like yesterday”s overnight rally, a new round of selling would be attracted to sponsor the next leg down. Here”s more detail in the pre-market Tour recording:
https://roddavid10.mitel-nhwc.com/join/bwhcmbz

Posted in S&P