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The market is in conflict, – If, Then… Market Timing

The market is in conflict,

By Rod David | April 29, 2015 - 4:52 pm

The market is in conflict, and the title holder had better fight back soon, or else he”ll lose his belt. Wednesday”s sellers beat up on buyers again, with another intraday probe under 2090-2095.25. It held again as support, without trending up overly-optimistically.

Two consecutive tests of 2090-2095.25 isn”t as problematic as there having been only a single interim upleg into Tuesday”s close. An opportunity to rally Wednesday afternoon wasn”t exploited. But, like Tuesday”s pattern, the rally can remedy the problem by gapping up and running at Thursday”s open.

And like Tuesday”s pattern, the alternative is another corrective dip. Its potential continues to be a retest of Tuesday”s 2088.25 low, which remains vulnerable to its bottom dropping out. Here”s more detail in the post-market Wrap:
https://roddavid10.mitel-nhwc.com/join/shkwzpt

Posted in S&P