Market Wrap (recording & summary)

Tuesday’s pre-open breakout originated too late to be credible for extending higher intraday. But it did hold up high enough and for long enough to trigger the 2498.00 bias-up signal.

Also too late was the bias-up signal’s rejection. Crossing back under 2498.00 a couple of minutes after 10:30 was a couple of minutes too late to invalidate what had been signaled cleanly at 10:15.

Tuesday morning’s 2503.50 bias-up target became “unfinished business above.” It can be fulfilled simultaneously with the offsetting test of Monday morning’s 2503.00 bias-up signal that was also left outstanding.

That’s two consecutive morning bias signals that were derailed. Patterns often come in threes, so we’ll be extra vigilant to this setup Wednesday. We’ll also see whether Tuesday’s late probe under 2495.50 cleaned out selling pressure, or attracted more.

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

Monitor overnight Globex trading in the chaRTroom here.