Market Wrap (recording & summary)

It remains to be seen whether or not there’s an air pocket below. There was room under the 2243.00 prior low down to 2240.50. It was tested once, by 1 point, by the first bar probing under it, and during the noon hour. So, its test held.

Probing under it, instead of only overlapping it, would have revealed the air pocket with multiple consecutive large downbars. No specific alternative resolution was required in the absence of an air pocket. The afternoon bias environment attacked its 2247.00 bias-up signal, and the balance of the session ranged sideways.

Although not obvious by only firming back up to unchanged, Thursday neutralized the last of “unfinished business below.” But momentum didn’t reverse up by only firming back to unchanged. There are unusual influences at year-end, unrelated to volume evaporating ahead of the holiday weekend. And those influences could still trigger trending on Friday.

Great suggestion regarding the Market Wrap… Pause the recording at the presentation’s end, then finish recording at the close so it is included in the video. I’ll start that on Friday, thank you!

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

Monitor overnight Globex trading in the chaRTroom here.