Market Wrap (recording & summary)

Having failed to gain traction during Monday’s final hour rally, extending higher without delay Tuesday morning required gapping up. But opening at Monday afternoon’s 2725.00 high did not suffice. The rally didn’t reverse down, but Tuesday morning ranged very choppily between 2718.00-2728.00. The morning’s 2728.25 bias-up target held.

And then the morning ended. Trending up into the afternoon bias environment came within 1 tick of its 2735.50 bias-up target. Like the morning, it also held. No new buying pressure was created.

Drifting back down through the proxy window to 2727.25 suddenly reacted up 5-1/2 points on a favorable China trade war comment. Its retracement was reversed through the close to fulfill its 2723.75 objective. The session went out overlapping yesterday afternoon’s 2725.00 high, again gaining no traction, and leaving no unfinished business outstanding.

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