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Tuesday afternoon”s next lower objective – If, Then… Market Timing

Tuesday afternoon”s next lower objective

By Rod David | March 31, 2015 - 4:36 pm

Tuesday afternoon”s next lower objective at 2057.50 was met, after the cash session close. One minute after the cash session close. Its reaction up settled back at or above the ~2059.00 low from 30 minutes earlier.

The break was too late for sellers to gain traction, and its reaction was too late to trap them. Extending down remains possible. And extending down overnight remains possible to recover before Wednesday”s open. Just not enough clarity to be assured of one particular resolution.

But either Wednesday morning contains a recovery”s origin, or else it could start accelerating to the downside. A 3-day weekend is fast-approaching, and positioning ahead of it should should be at its most active. So, Wednesday”s pattern could be predictive of bias into and out of the weekend.

Here”s the recording to Wednesday”s post-close Wrap:
https://roddavid10.mitel-nhwc.com/join/xmjcwyh

Posted in S&P