Market Wrap (recording & summary)

2388.00 had already established its relevance. Suddenly stopping Thursday afternoon’s rally further confirmed its relevance. Overbought RSIs that formed at the high require an eventual retest. That retest could help to resume the rally. Trying to resume the rally immediately Friday would be credible for extending higher, but also vulnerable to reversing down through the open.

Thursday’s lows also confirmed the relevance of 2379.00. Its break would extend the pullback, initially to test 2375.00 where its test would either hold to resume the rally to new highs, or else extend the pullback to 2360.00-2361.00.

Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.