Market Wrap (recording & summary)

Sunday night’s rally from Friday’s 2628.00 close had extended up to 2666.00. Its correction down to 2655.00 was recovered and extended through Monday’s first half-hour to attack 2672.00. Which held a test of Wednesday’s prior high to form a base.

That created a lot of room to absorb backing-and-filling. The 2652.50 noon hour low barely and briefly probed under the pre-open low, and held Wednesday’s lower-end. The post-open rally resumed until fulfilling its minimum objective of a fresh high attacking 2674.00. Flat-to-higher ranging through the close extended to test 2676.00.

Trump comments immediately following the close triggered a blip down to 2668.00. Extending higher at all should almost literally explode higher. Extending higher above 2678.00 could become very exponential. There’s otherwise room back down to the 2660.00 area before even suggesting the near-term upside is delayed, and then well under Monday’s intraday lows before reversing the trend back down.

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