Market Wrap (recording & summary)

Weekend weather wasn’t a game-changer for the ongoing topping pattern. Monday’s surprising relief rally did position the market to for a bigger leg up if reinforcements were to arrive Tuesday. Otherwise, either an immediate pullback is needed to refuel buyers. Extending higher too quickly would find buyers extended and buying pressure expended.

Extending higher would also fulfill Monday afternoon’s “unfinished business above” at its 2490.00 bias-up target. The final hour touched a sell signal at 2484.00 without triggering it. Monday morning was the first actual uptrending since the prior Tuesday afternoon’s reaction up from the morning’s plunge.

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

Monitor overnight Globex trading in the chaRTroom here.