Market Wrap (recording & summary)

Thursday’s session shows how difficult it can be to trend from a standing stop. The 2632.00-2645.00 overnight range was choppy, but hadn’t broken higher before the open. So, the post-open trending attempts weren’t much more likely to suddenly attract sponsorship that wasn’t enthused only hours earlier.

Tests of 2632.00 support had been isolated until the noon hour. All of the chipping away at had begun requiring at least obligatory probe lower. The afternoon’s bias-down complied by triggering and testing its 2627.25 target down to 2626.00. A test of 2625.00 was likely but not fulfilled, so neither was the ongoing potential for 2605.00.

The afternoon’s bias-down environment hovered at its 2635.00 bias-down signal until the window began lapsing. Eking higher to attack 2643.00 at the close stopped far short of the morning’s outstanding 2650.00 bias-up target this is now “unfinished business.” It’s not any closer after the futures close reacted down to 2633.50 on INTC’s earnings miss and lower guidance.

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