Market Wrap (recording & summary)

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Tuesday night’s brief probe under the intraday low down to 2781.50 had been recovered pre-open to test Tuesday’s 2789.00-2792.00 close. Slipping back into negative territory at the open extended down to greet the afternoon bias environment at 2769.50. A 9-point bounce gained no traction, remaining within the noon hour’s range and entering the final hour within the bias environment’s range. Probing fresh lows down to 2768.50 also reacted up, but shallower, barely attacking 2777.00 instead of recovering it.

There was no bullish reason to revisit 2777.00 again. Closing under it maintains the door opened intraday to the next lower objective at 2753.50. No hold-short or hold-long setup could be contemplated at the close, and gapping up Thursday can’t form a session-long rally. Simply gapping up and rallying anyway would leave “unfinished business” below. Somehow isolating an overnight probe of fresh lows could be bullish, but meanwhile would be vulnerable to extending down.

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