Market Wrap (recording & summary)

Tuesday’s fluctuation around Monday’s close didn’t spend much time at unchanged. The morning’s two opposing trending attempts were never equaled intraday, let alone exceeded. But volatility persisted through the close. The market has widely opposing opinions and it is trying to express them all.

That’s usually the recipe for a exploding in one direction or the other. No traction was gained either way Tuesday afternoon. So credible trending Wednesday morning would begin by gapping pen.

Gapping up above Tuesday’s 2900.00 high, not, there’s room up to 2914.00 before signaling the trend has reversed up. Just closing above Friday and Monday afternoon’s 2895.00 highs would at least indicate a bottom has formed. Gapping down to and through Tuesday’s 2879.00 low would all but ensure retesting Monday’s 2866.00 low, and then probably also 2850.00.

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