Market Wrap (recording & summary)

2563.75 maintained a second consecutive recovery close to confirm the next higher objective at 2590.50 is in-play. And the confirmation was done without expending buying pressure. Monday’s entire session developed in negative territory. Its post-open surge only tested the structure containing the gap back up to Friday’s 2578.50 close.

No “unfinished business below” was left outstanding. This includes oversold RSIs at the 2565.50 low, since that had developed during the noon hour when retest isn’t required. But a late opportunity to gain traction was missed by not recovering 2570.25-2571.00 before coming within 3 minutes of the cash session close.

Recovering 2571.00 overnight would be credible for extending higher Tuesday, especially above 2574.25. Otherwise, exiting the open under Monday’s 2565.50 low would make 2560.50‘s test likely next.

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

Monitor overnight Globex trading in the chaRTroom here.