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Yesterday”s recovery tried gaining traction – If, Then… Market Timing

Yesterday”s recovery tried gaining traction

By Rod David | May 13, 2015 - 5:46 am

Yesterday”s recovery tried gaining traction in the afternoon, but only one timing window showed enough effort. But the next two didn”t reject it. Nevertheless, the effort has extended higher overnight, first up to 2101.50, and now to briefly touch 2105.75. Gapping up is necessary to resume a rally that didn”t gain traction, so this action is promising, keeping alive potential to new highs within 24-48 hours. It”s also vulnerable — not maintaining a gap up can produce a rubber band effect that retests yesterday afternoon”s lows, 15-16 points lower. See you at the 8:55 ET pre-market Market Tour in the chaRTroom, which you can access anytime here:

Win – XP friendly: http://anymeeting.com/869-139-358
non-xp ilinc-Mitel: https://roddavid10.mitel-nhwc.com/join/bfyyts

Posted in S&P