Market Wrap (recording & summary)

Have a safe and Happy Thanksgiving!

The pre-Thanksgiving volume contraction had an effect on volatility. A pre-open surge touched the morning’s 2600.00 bias-up signal and only attacked it post-open. Reacting down choppily and relentlessly through the noon hour probed the overnight low by 3 ticks down to 2593.75. Firming into and out of the afternoon’s FOMC Minutes tried to trigger a buy signal above 2597.50.

Potential down to 2591.75 was left unresolved. It’s not “unfinished business below.” But it was the likely target of Thursday afternoon’s failed Ascending Triangle. And it would have been targeted as an offsetting test of the morning’s bias-up signal, which had been only attacked. Still not required, but its test would be likely — and potentially 2588.25 or lower — in reaction to any bearish global influence on Thursday night’s Globex.

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

Monitor overnight Globex trading in the chaRTroom here.