Market Wrap (recording & summary)

The gap from Monday’s 2563.50 close is natural support. It was substantial support Tuesday when tested morning by the post-open plunge from 2569.25. Its support protected against extending down to fulfill a test of 2560.25 that had been put into play.

Recovering to 2570.25 didn’t protect against another downdraft, and had started becoming likely. But being triggered by headlines upset the natural timing that would have produced fresh post-open lows. So, 2560.25 becomes “unfinished business below.”

The delay in fulfilling 2560.25 allows more room to test it, such as down to 2556.00-2557.50. There’s still room down to 2554.00 before threatening a deeper detour prior to fulfilling a new trend high close. No further detour is required, and fresh highs could still come first.

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

Monitor overnight Globex trading in the chaRTroom here.