Market Wrap (recording & summary)

Monday morning wasn’t as optimistic as last week’s relentless rally. But the containment lured in buyers with the promise of a new high. They got just that, that and only that, by 1-2 ticks.

The morning’s bias-down signal was never attacked, let alone triggered. Finally probing above Friday’s 2742.00 highs as the morning bias environment began lapsing, the afternoon’s bias-up signal triggered easily. The overnight high didn’t require being retested, but it was pierced, and it held. The afternoon’s 2750.25 bias-up target became “unfinished business above.”

Already fulfilling the requirement of Friday’s new trend high close for another, now there is no other unfinished business above. And there is no timing requirement to fulfilling 2750.25, which could be met overnight — whether or not that were to create another upside attraction would be important, but trending down through Tuesday’s open could extend.

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