In bull markets typically the low of the day is made near the open.
In bear markets typically the high of the day is made near the open.
Seven of the last nine trading days the SPX high of the day was made within the first twenty minutes of trading.
This is another of many clues that for stocks, the bear may be back.
If there's a SPX rally on the open 1/3/17 it may not last very long.
If so the SPX may not reach the target zone noted In my 12/31/16 SPX post.
Illustrated in this post is a lower target zone.
Maintain stop loss at SPX 2285.93
Happy New Year to All
Mark
In bear markets typically the high of the day is made near the open.
Seven of the last nine trading days the SPX high of the day was made within the first twenty minutes of trading.
This is another of many clues that for stocks, the bear may be back.
If there's a SPX rally on the open 1/3/17 it may not last very long.
If so the SPX may not reach the target zone noted In my 12/31/16 SPX post.
Illustrated in this post is a lower target zone.
Maintain stop loss at SPX 2285.93
Happy New Year to All
Mark