Before And After

As I showed this morning before the “markets” opened using the S&P 500™ futures. I pointed out what I described as a “Text Book” example of a technical process that could be signalling further weakness on the horizon, rather than strength into higher and higher highs.

As always anything is possible, and by the amount of times said “market” has taken the 0.1% option for odds vs the 99.9% position, the safest bet has been, until now, to take the “low” and ride it to riches! aka “Don’t f’n think – BTFD” (buy the f’n dip) no matter what option.

However, now that the “market” has finished the day session (4:00pm EST) I want to show you how today’s ending reflected that of the “market” before it opened. To wit:

(Chart Source)

Look at where it finished, also note just how relentless it continued all day, bid by bid, to get there – then stop. Hint: same as my prior “text book” at a perfect 61.8% retrace.

It’s almost like the machines were programmed or something to accomplish just that, no? But I digress.

As always, we shall see. But with Facebook™ (Meta™) reporting sometime after the close, it’s still very important to watch just how the overnight market reacts for those who want to pay attention for further signalling.

For the time to be paying attention to it all is now.

© 2022 Mark St.Cyr

Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.