Market Wrap (recording & summary)

Lower volume from global May Day celebrations didn’t interrupt Monday’s decline from achieving its objective Tuesday. The minimum objective of 2641.50 would have sufficed, had its overnight test been isolated by opening back within Monday’s range. But that recovery attempt’s failure put into play 2635.00-2638.00, whose failure targeted 2623.00. All had been tested when the afternoon bias environment was entered. All were recovered when the bias environment began lapsing. And the balance of the session extended higher to recover positive territory up to 2653.00-2654.00, ignoring any anxiousness ahead of AAPL’s post-close earnings. But the positive close was too shallow to confirm the afternoon’s traction must extend higher, although that’s likely so long as Wednesday’s open doesn’t gap down.

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