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The favorable knee-jerk reaction to – If, Then… Market Timing

The favorable knee-jerk reaction to

By Rod David | July 2, 2015 - 9:27 am

The favorable knee-jerk reaction to this morning”s payrolls number spiked up more than 5 points to 2078.50. Its retest up to 2079 has reacted down to the spike”s origin, erasing the entire gain. That”s not yet bearish — this is still positive territory above 2069-2071, and the overnight rally was just corrected by the reaction down. Recovering above 2077.25 would be credible for extending higher this morning. Meanwhile, not recovering 2076 would suggest new buyers aren”t being attracted, and back under 2069 would reverse the trend underway since yesterday afternoon”s lows.
Details were discussed in the pre-market Tour:
https://roddavid10.mitel-nhwc.com/join/cxspjkj

Posted in S&P