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  • JDT S&P Morning Report 1-4-2016

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    babasolai83
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    The S&P 500 morning report for January 4, 2016 summarizes the global stock market selloff to start the new year. It notes that China's market fell almost 7% before halting trading, and that the weak structure of the U.S. market on December 22 indicated emotional buying that left the market vulnerable. The report identifies the overnight low as an important reference point, saying that failing to break below it suggests a potential short-covering rally, while a sustained break below it could target further declines to levels from 1991 or 1983.

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    The S&P 500 morning report for January 4, 2016 summarizes the global stock market selloff to start the new year. It notes that China's market fell almost 7% before halting trading, and that the weak structure of the U.S. market on December 22 indicated emotional buying that left the market vulnerable. The report identifies the overnight low as an important reference point, saying that failing to break below it suggests a potential short-covering rally, while a sustained break below it could target further declines to levels from 1991 or 1983.

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    © All Rights Reserved
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    8 views2 pages

    JDT S&P Morning Report 1-4-2016

    Uploaded by

    babasolai83
    The S&P 500 morning report for January 4, 2016 summarizes the global stock market selloff to start the new year. It notes that China's market fell almost 7% before halting trading, and that the weak structure of the U.S. market on December 22 indicated emotional buying that left the market vulnerable. The report identifies the overnight low as an important reference point, saying that failing to break below it suggests a potential short-covering rally, while a sustained break below it could target further declines to levels from 1991 or 1983.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    16772 W Bell Road

    Ste 110-452
    Surprise, AZ 85374

    S&P 500 Morning Report For 1


    1-4-2016

    Perspective China was down almos


    almost 7% before trading was stopped. We
    e open 2016
    with a global selloff.
    I have circled December 22,, which was an up day with very poor structure.
    structure The
    structure indicates that there was emotional, non-thinking
    thinking buying. Shorts were
    squeezed and momentum traders aders chased the market hhigher. Short
    hort covering weakens a
    market as potential buying
    uying power has been removed
    removed. Longng positions were accumulated
    within the hands of the weakest of traders. Lear
    Learning
    ning to read structure helps you assess
    the odds going forward.

    1
    16772 W Bell Road
    Ste 110-452
    Surprise, AZ 85374

    The overnight low is an important


    portant day timeframe reference
    reference:
    1. Failure to take out and find acceptance below the overnight low produces
    high odds of leading to a short covering rally.
    2. Taking out and finding acceptance below the O/N low targets the lows at
    1991 followed by 1983.25.
    The 2000 level is also likely to be an important psychological trading level.
    We will be with you live as the market opens.

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