Market Wrap (recording & summary)

[Market Wrap was held one hour earlier because I am away from the screens for the final hour.]

A surge exited the afternoon bias environment probing above its 2306.00 resistance. But only to attack 2308.00 before hesitating. Extending higher would next target 2311.00 and potentially also 2327.00. But more importantly, a final hour reversal down would be avoided.

Trending up to fresh highs through the 3:10-3:20 proxy window would be optimal for today’s rally gaining traction. If not, then extending higher tomorrow morning would all but require gapping up again.

Reversing down today need not collapse, but it could. Extending higher tomorrow morning need not persist into the afternoon, but it should. Being a Friday, the morning’s bias tends to persist through the noon hour. In the market Wrap recording I briefly touched on the challenge and meaning to this pattern closing higher on a Friday.

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

Monitor overnight Globex trading in the chaRTroom here.