Market Wrap (recording & summary)

Retesting Sunday night’s 2403.00 high, at least up to 2405.00 and probably up to 2415.00, had relied on holding this week’s lows as support. At least, retesting the highs without first dipping to 2375.00 or lower. This week’s lows broke sharply down to 2379.00 as the morning’s bias environment was entered. It held a retest while RSIs diverged positively. And it was reversed relentlessly through the afternoon bias environment’s exit.

The open’s gap down had touched 2392.25 before plunging through the morning’s 2391.75 bias-down signal. The intraday recovery touched 2393.25 into the afternoon bias environment lapsing. The balance of the session ranged around 2391.75.

Decisively recovering 2391.75 would have been more bullish. Decisively recovering it upon entering the bias environment would have been even more bullish. Closing back above the week’s prior lows was the least bullish bullishness, remaining in the orbit of Sunday night’s highs. The high’s retest and probe remaining likely near-term so long as Friday’s open isn’t rejecting Thursday’s recovery.

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

Monitor overnight Globex trading in the chaRTroom here.