Market Wrap (recording & summary)

Monday afternoon’s bounce peaked just after the bias environment began lapsing at 2:30 at 2273.00. Rather than extend higher, the 3:10-3:20 proxy window reacted down to 2269.00. It was too late for strong-handed buyers to push price higher, but that didn’t prevent rallying, anyway.

And not by just a little. Potential to 2275.00 and 2277.00 was fully satisfied at the bounce’s peak. Their potential for attracting price higher into rally mode overnight was suddenly inverted. Now, global participants have a chance to sell a bounce after missing Monday morning’s sell-off.

Oversold RSIs at Monday’s 2263.25 low require an eventual retest. That could be much sooner, rather than later, if Tuesday’s open isn’t already gapping up above higher prior lows at 2287.00-2289.00. Just rallying post-open to higher prior lows would more likely hold their resistance and reverse down substantially

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

Monitor overnight Globex trading in the chaRTroom here.