Market Wrap (recording & summary)

Rallying overnight up to 2667.00 was nonetheless contained entirely within Tuesday’s range. Wednesday’s session would go on to be an “inside day,” as well. Gapping up dipped immediately to within 2 ticks of the morning’s 2650.50 bias-up signal, then snapped back up to 2666.00. Its bias-up target was exceeded in time to renew the bias-up signal, but that didn’t prevent testing its renewed bias-up target up to 2671.25 as the morning bias environment began lapsing.

Not bad, from the earlier 2632.25 Globex low. Yet, all still an inside day. Lower lows through the close tested and held support at the 2647.75-2648.50 61.8% retracement between Tuesday’s close and Wednesday’s gap up, natural support.

The afternoon’s 2662.00 bias-down signal didn’t trigger, but it did serve as the afternoon’s support to a narrowing range. The proxy window finally cratered, extending down through the position-squaring window to retest the open’s attack on 2650.50. All still an inside day.

There’s nothing predictive about Wednesday’s price action. Less so about Friday, which closes early and is surrounded by days off. The chaRTroom will remain open — have a  Happy Thanksgiving…

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