Market Wrap (recording & summary)

Thursday morning’s bias-down signal triggered after a post-open dip to had probed 9 points under the bias-down target to 2562.00 — still above the 2560.50 overnight low, and all well below Wednesday’s 2582.50 and 2586.25 closes. Also, all well below Wednesday’s 2569.00 low, failing to form a bullish Isolation setup.

But the morning rallied anyway, testing the window’s 2679.00 bias-down signal as resistance. And probing it, filling the gap back to Wednesday’s 2582.50-2586.25 closes, and testing the morning’s 2590.75 bias-up signal where any higher would have invalidated the bias-down environment. But another dip was required, and it got to 2573.50 before resuming the rally to close back at or above Wednesday’s 2596.75 high to finally isolate the overnight/open’s failed reversal attempt.

The rally’s next higher objective at 2606.00 remains intact, somewhat likelier to include its room for noise up to 2626.00. None of which prevents another interim dip, although it should be limited to 2581.00 to be brief, or to 2567.00 to be recoverable.

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