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The reaction to the pre-open – If, Then… Market Timing

The reaction to the pre-open

By Rod David | August 1, 2014 - 9:38 am

The reaction to the pre-open Employment Situation report was substantial. As an example, Dow futures spiked up 100 points! Oh, they were down more than 100 points when the news was announced. NDX and Russell futures turned positive. Momentarily. They”re improving post-open.

This being a Friday, the opening hour”s bias can be extrapolated out to the entire session — at least, to eliminate some outcomes. Trending up through today”s open might not herald a day-long rally, but it could still marginalize sellers. By the same token, not rallying through the first hour would leave the door wide open below.

Precious Metals (silver and gold) have pulled back this week to very important prices in my work. Several stock charts that we”ll review in today”s Livedesk are GDX, SIL and PSAU.

I”ll add my post-open observations to this thread in the Activity Feed…

Enjoy!

Posted in Bigger Picture