Market Wrap (recording & summary)

This Tuesday’s reaction to the latest N. Korea missile was decidedly different than last Tuesday. Post-open action didn’t rally, and overnight lows were probed. At least recovering to close back above the 2460.25-2461.25 overnight lows could have isolated intraday sellers, but they proved too strong-handed. And that was despite having trended up since exiting the noon hour off of 2445.50. An uptrend that nearly fulfilled an attraction to “higher prior lows” at 2461.00.

So, expending buying pressure all Tuesday afternoon, nearly fulfilled its potential, holding resistance without trapping any shorts. As suspected before the open, rallies would be inhibited. As suggested at the close, it’s not just weak hands that are inhibited.

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

Monitor overnight Globex trading in the chaRTroom here.