Market Wrap (recording & summary)

Wednesday’s gap up established a position of strength by the opening 15 minutes holding a test “lower prior highs” at 2707.00. That quickly resolved up during the morning bias environment to test the next relevant resistance at 2716.50-2724.00, the morning tested 2729.00. Pulling back to the open recovered to fresh session highs during the afternoon bias environment to test 2737.00.

Up 25 post-open. Up 52-54 points from Tuesday’s close. All of the post-open gain was retraced by a drop that originated at the proxy window exit, testing 2710.00 at the cash session close, and 2706.00 at the futures close.

Reversing down Thursday morning now requires gapping down to isolate Wednesday’s session. Otherwise, Wednesday’s highs are likely to be probed up to 2741.00.

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