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The watched pot is simmering. – If, Then… Market Timing

The watched pot is simmering.

By Rod David | January 21, 2015 - 3:33 pm

Sideways ranging into ECB announcement.

This afternoon”s no-bias trending under the 2021.00 bias-down signal dipped to 2016.25 before recovering. And that was only after retesting its oversold RSIs while RSIs diverged positively. The reaction up is testing 2027.00. 

The afternoon was likely only to drift and not trend. It drifted down during the no-bias environment. It drifted back up through the bias environment”s exit and into the final hour.

Now it”s free to drift back down again — still not trending, but bouncing from one end of a range to another.

Back above 2027.25 would marginalize sellers for the day. Meanwhile, back under 2024.00 would target 2021.00 again. That”s slim pickings ahead of tomorrow morning”s pre-open ECB announcement.

Posted in S&P