The rally is getting shaky.
The rally is getting shaky. Monday fulfilled Its 2128 target and Globex tested its 2133 room for noise. Tuesday”s open rejected both. Tuesday afternoon”s fresh intraday high at 2130.25 was rejected, too, reversing back under the morning”s low to 2121.25. Unfinished business was left outstanding below at 2119.25.
Tuesday”s post-market Wrap depicted the similarities to February”s top, which is how we”ve been expecting this rally leg to end. It”s not a perfect replica, but it was close. And the rally”s uptrend held its lower low, but it was close. I noted several other conditions that were of concern here:
http://marketfy.com/product/rod-davids-futures-market-timing/blog/1176/view/82416/
Wednesday”s session could be very revealing. Like pre-expiration, big money must position before liquidity begins evaporating into the three-day holiday weekend. Closing Wednesday above Monday night”s highs could marginalize sellers into and out of the weekend. Otherwise… it”s close.
That”s also reviewed in Tuesday”s post-market Wrap, linked below:
https://roddavid10.mitel-nhwc.com/join/kfptmry …OR…
MP4 version here: https://www.anymeeting.com/189-496-275/E950DE87854A3D
And here are tonight”s chaRTroom links:
XP-Friendly: http://anymeeting.com/527-368-368
non-XP ilinc: https://roddavid10.mitel-nhwc.com/join/bfyytsh
