Monday”s gain was nominal, just

Monday”s gain was nominal, just +1 point at the cash session close, +3 points at the futures close. At least, the gain appeared small compared to having been ahead 7 points an hour before the close.

The late drop prevented buyers from gaining traction. Although the bias environment had been exited above the noon hour”s high, neither of the next two checkpoints confirmed. But did sellers gain anything for their effort?

The close was testing 2120.75-2122 as support. This was the prior timing window”s low whose earlier break could have invalidated the afternoon”s bias-up. Earlier. Breaking under it through the close would have been too late — whether by 1 point or by 10. And, anyway, it wasn”t broken. So, sellers expended all of that energy, when they weren”t going to gain any traction for the effort.

The afternoon”s 2128.25 bias-up target became “unfinished business above” that requires being tested, regardless. Monday”s late drop does require gapping up above 2125.50 to resume the rally without delay. Not gapping up would be vulnerable to inserting a pullback to 2103, or to 2190-2191.

Details and other markets coverage were reviewed during the post-market Tour:
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Monday night”s chaRTroom links to view Globex:
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