Market Wrap (recording & summary)

Back at square-one. Perhaps not precisely, or numerically, But essentially. Thursday’s post-open plunge did manage to create a new objective below that remains outstanding. But its 2493.25 bias-down target would have been fulfilled by retesting oversold RSIs at Wednesday’s 2494.00 low. Essentially the same.

Any recent indications of a potential top would all but evaporate if the week ends in a new trend high close. That setup would entrench the rally, and the two setups should not coincide. Hovering just under the rally’s highs into the weekend isn’t very top-ish, either. So, a valid top may enter the weekend already in decline.

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

Monitor overnight Globex trading in the chaRTroom here.