Market Wrap (recording & summary)

Especially volatile overnight action preceded Tuesday’s open. None of which reversed momentum down and only chipped away at resistance. Two overnight dips to 2655.00 were interrupted by a spike up to 2684.00, which the session climbed back up to eventually attack within 1-3 ticks. The morning’s rejection of both bias-down parameters had put into play offsetting tests of both bias-up parameters, one still outstanding at 2686.00.

Coiling and restrained optimism in probing above Monday’s highs suggest almost literally exploding higher if the rally’s extension is valid. Subdued gains would suggest instead a rubber band stretching, before it snaps back down. And there’s no longer room down to 2660.00, which has become too chipped away to prevent trending lower.

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