Monday afternoon”s sellers had gained

Monday afternoon”s sellers had gained traction for their efforts, essentially dooming to failure the overnight rally unless Tuesday”s open could gap up above Monday afternoon”s high. The gap was close, but not maintained, and the balance of the session trended back down to Monday”s afternoon”s lows.

That”s not an uncommon setup, but the intraday 88-point slide is almost unprecedented. And Monday afternoon”s sellers have yet to be rewarded for their efforts.

Tuesday afternoon”s sellers also gained traction. Not decisively — needing the 3:10-3:20 proxy window, and already being pretty well rewarded by plunging another 50 points. But buyers certainly didn”t gain traction, so there”s no conflicting signals.

Details and other markets coverage were discussed during the post-market Wrap, recorded here:
https://roddavid10.mitel-nhwc.com/join/wzjkckv

After 6:00, monitor Globex action in the chaRTroom at either link:
Win XP-Friendly — http://anymeeting.com/789-286-671
non-xp friendly — https://roddavid10.mitel-nhwc.com/join/bfyytsh