Market Wrap (recording & summary)

Monday night’s bounce up to 2934.25 barely filled the gap back up to Friday’s close, probing back into its late dip. The gap actually remains unfilled because overnight tests don’t qualify, only intraday. Nevertheless, its resistance pushed price back down to greet Tuesday’s open back at Monday’s highs.

The rally didn’t start so late that its breakout attempt was necessarily false. It wasn’t so shallow that it couldn’t produce the gap up a rally would need if it were going to start before late afternoon. And the pre-open reaction down wasn’t incapable of rallying through the open.

But new sponsorship wasn’t found. And the balance of the session trended down choppily.

The critical 2919.00 support was probed twice Tuesday afternoon but held its recovery through the close. An overnight dip to 2914.00 wouldn’t be surprising, nor would already recovering from it into an opening rally, gapping up too  compensate for Tuesday afternoon’s buyers not gaining traction.

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