Market Wrap (recording & summary)

Tuesday’s repeat of Monday’s opening pattern — gap up, collapse down — confirms the potential for a significant peak in this area. Tuesday’s open included the 2552.00 objective that Monday’s open had missed before reversing down. Consequently, no “unfinished business above” remains outstanding.

But while there’s no active attraction above, there’s no reversal signaled below. Relevant levels have held their tests as support, or simply not been challenged through the close. Sellers aren’t gaining any traction for their efforts.

The rally could resume simply by testing Tuesday’s opening highs, and not quickly reversing down. Meanwhile, almost any probe under Tuesday’s lows would start to roll over the edge, and threaten to signal a trend change by the close.

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

Monitor overnight Globex trading in the chaRTroom here.