Market Wrap (recording & summary)

Closing above 2672.00 last week would have put into play the next higher objectives at 2715.00-2722.00. Having tested 2672.00 up to 2680.50 without closing above 2672.00, now higher objectives are put into play by closing above 2680.50 — and really, by closing above the room for noise up to 2681.50.

Monday came close. As close as possible without being decisive. The afternoon bias environment had dipped from 2687.00 to almost 2676.00. The last half-hour surged, but was brought back down to 2681.50.

Closing under 2672.00 would have rejected the probe above last week’s high, perhaps also signaled that momentum was reversing down. But having held up, rallying remains possible Tuesday. Buyers gained no traction for their efforts Monday, so only gapping up would be reliable for extending higher.

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