Market Wrap (recording & summary)

Was Monday’s pattern any different than Thursday or Friday? Each held shallow probes under Wednesday’s 2382.00 low. Each rejected early strength — or, in Monday’s case, early strength was only retraced. And each has yet to recover Wednesday’s last-hour slide.

But retracing Monday’s early strength was recovered (twice). And the afternoon was in recovery mode, attacking 2391.00. The only threat of fresh lows was if the recovery mode were to fail. So, is last week’s rally resuming? Gapping up above 2391.00 Tuesday would suggest so.

Monday’s late break lower rejected the probe above 2388.00. And the break closed under the morning’s 2387.50 recovery highs. The door to fresh lows remains every bit open as each session following Thursday and Friday. Fresh lows remain likely to be recovered, and fresh lows overnight could be recovered before Tuesday’s open.

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

Monitor overnight Globex trading in the chaRTroom here.