Market Wrap (recording & summary)

The week began with relatively choppy overnight ranging that kept Tuesday’s first hour choppy, too. But the range quickly contracted to a matter of ticks. Flat-to-lower ranging probed a fresh low AFTER the 3:10-3:20 proxy window had closed, which was already too late to be durable. Greeting Wednesday’s open above Tuesday’s range would be credible for extending higher, and for probing new highs. Otherwise, “unfinished business below” continues to inhibit a recovery, while the opening between two seasonally bullish windows gives room for a downdraft.

• Details and other markets coverage are discussed in the post-market Wrap recording here.
• Monitor overnight Globex trading in the chaRTroom here.