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Waiting for the other shoe to levitate. – If, Then… Market Timing

Waiting for the other shoe to levitate.

By Rod David | January 21, 2015 - 1:28 pm

Limited trending potential ahead of tomorrow”s ECB QE.

This morning”s 2018.75 bias-up signal ultimately triggered late. That”s okay. Exceeding its 2025.25 bias-up target by 7-1/2 points compensated for the delay.

The next higher objectives were 2029.50 and 2033.00. Both have been essentially met, and held. 

So long as 2027.00 isn”t recovered, a pullback should drift down to 2021.75 or 2018.75 without reversing the trend down. Above 2027.00 would likely retest this morning”s high.

Yesterday afternoon”s buyers have been rewarded for gaining traction, and doesn”t require any more upside.At least, not to reward yesterday”s buyers. There is room for a lot of noise either way this afternoon while awaiting tomorrow”s ECB news. Actual trending ahead of it isn”t likely.

Posted in S&P