Market Wrap (recording & summary)

Wednesday afternoon’s late bias-down signal wasn’t the least bit productive. Actually, it WAS the least bit productive. More important was that the bias signal wasn’t rejected. So, its 2679.00 bias-down target becomes “unfinished business below.”

How choppy is this market environment? The morning’s late bias-up signal left outstanding its 2693.75 bias-up target. Now it becomes “unfinished business above.” Each requires being met eventually. As does last Wednesday’s outstanding 2675.50 bias-down target.

Until proved otherwise, I’m still giving the downside a benefit of the doubt for exercising its influence. Wednesday’s downdraft began in time to be credible ahead of another 3-day holiday weekend’s seasonal bullishness. But it doesn’t have unlimited time to fully develop. Unless Thursday’s open were to gap up above Wednesday’s highs, fresh lows remain in-play.

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