Market Wrap (recording & summary)

The morning’s 2292.00 bias-up signal had required being tested, since the morning’s 2283.50 bias-down signal held its test through 10:15. Neutralizing it during the 3:10-3:20 proxy window would have evolved into a new rally leg.

Missing that window made the balance of the session much likelier only to range flat-to-higher, and unlikely to trend down. In fact, the 3:37-3:52 position-squaring window touched 2292.00, and only reacted down to 2290.00.

Like the past two sessions, new highs remain likely, if only up to 2311.00 instead of to 2327.00. And new highs remain vulnerable to reversing down abruptly and sharply, especially if produced that same way. Avoiding new highs would likely be only temporary, and likely to begin only by gapping down.

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

Monitor overnight Globex trading in the chaRTroom here.