Market Wrap (recording & summary)

The ongoing Head & Shoulders pattern could have resolved during the final hour. The entire session had attempted breaking either way. First Sunday night’s surge held up into Monday’s open. And then it collapsed when the open had lapsed.

Overnight rally and opening drop, neither one extending. Two no-bias environments. The final hour could have broken in either direction.

The final hour didn’t break the afternoon’s range. But it did expand it, in both directions. So, the pattern didn’t resolve, but not for lack of trying. This range wants to break, and is that much more vulnerable to gapping open either way Tuesday.

Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.