Market Wrap (recording & summary)

No-bias trending during Wednesday afternoon neutralized one or two attractions above. The morning’s 2344.25 bias-down signal and the 2346.00 10:15 print were both tested by a surge that attacked 2347.00. Ironically, that surge developed during the afternoon’s no-bias environment, originating under the 2343.50 bias-up signal. It was later retraced, along with the 2341.50 1:20 print.

Also retested was Wednesday’s 2340.00 lower prior highs. Its test Wednesday morning was likely to hold, which it did. Its retest Wednesday afternoon was under no such obligation, but it held anyway.

That last point underscores how difficult it is to attract sponsorship ahead of a three-day holiday weekend. If that Friday will be closed, then trending should start by Wednesday morning, or have played out by Wednesday afternoon. Wednesday was an “inside day.”

Regardless of having avoided a break lower for this long, still being in close proximity to the lows demands vigilance. But fresh lows Thursday would still find it difficult attracting sponsorship. Meanwhile, there’s a lot of room for simply gravitating from the range’s lower-end, up into the weekend.

Details and other markets coverage are discussed in the post-market Wrap recording here.
[Please also try the Adobe recording here.]

Monitor overnight Globex trading in the chaRTroom here.