Market Wrap (recording & summary)

Sunday night’s drop retested Friday’s low — itself, a test of 2767.00 — and retested it after the open. Breaking lower was avoided, but not rejected, as price was still ranging around 2767.00 while the opening 15 minutes of volatility was lapsing. So, it wasn’t rejected decisively, which was enough for rallying back up to the 2778.00 bias-down signal before the bias environment began lapsing.

A pullback to 2770.50 was recovered to 2778.00 when the afternoon bias environment began lapsing, and a pattern was formed. One more shallower dip was recovered to probe fresh highs into and out of the close up to 2780.00.

Unless already rejected overnight, the late break’s next higher objective is to fill the gap back up to Friday’s 2784.50 close. And it’s test would likely be probed by a couple of points. Any higher would start putting into play the 2796.00 and 2798.00 objectives above.

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