Market Wrap (recording & summary)

Monday’s excessive optimism had continued its productivity post-close, probing higher overnight to 2799.00. Reacting back down into negative territory at 2785.50 was recovered in time to avoid a bearish opening setup. Its reward was to probe even higher highs attacking 2803.00. But ultimately the opening levels around 2793.00 were retraced. Perhaps anxiousness ahead of the Brexit vote inhibited the extension higher, but then it also limited the reaction down. In any case, Tuesday’s ranging has potential to be probed even higher to 2811.25-2812.00, unless Wednesday’s open has gapped down back under Monday’s 2789.00 high to form an Island Reversal pattern.

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