Market Wrap (recording & summary)

Tuesday’s gap up didn’t immunize the session from being able to probe Monday afternoon’s range to fresh lows. But gapping up did enable more room to expend selling pressure without it damaging the recovery’s chart.

Recovering from the open’s selling pressure defined the morning’s high, and then also the noon hour and afternoon bias environment’s highs. The final hour arrived with an attempt to break higher, but it only got to 2575.50. Tragedy on a bike path in New York may have been responsible for reacting back down into the range to 2571.00.

Wednesday’s opening setup remains unchanged from Tuesday. Gapping up would likely extend higher intraday, its objective being a retest of Friday’s high. Reacting down from a gap up would be at risk of extending down into Monday afternoon’s range, and and through it to test 2560.00.

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

Monitor overnight Globex trading in the chaRTroom here.