Market Wrap (recording & summary)

We’ve been here before. We’re back there again, and then some.

We’ve closed sessions with no “unfinished business above” outstanding. Tuesday’s 2488.50 high satisfied the prior high’s retest up to a minimum 2484.00. Overbought RSIs last printed during the noon hour, so don’t require a retest.

This instance has the added bearishness of having formed a “Pivot Reversal” which I describe in detail during the Market Wrap recording. Gapping up above 2478.00 Wednesday would go a long way to invalidating the bearish setup. Along way toward it, but ot all the way, which would be done by closing above 2484.00.

Extending down instead has plenty of unfinished business below. The most central of which is a gap back down to 2425.00, which shouldn’t be filled at this stage unless much lower objectives are in-play.

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

Monitor overnight Globex trading in the chaRTroom here.