Post-market Wrap

Foreclosing upon further upside didn’t default to resuming the decline. So, that wasn’t the decline resuming? Breaking 16 points in an hour from — 1949.00 down to 1939.00 — certainly seems like a decline. Of course, it is a decline, but it didn’t necessarily resume the decline.

In fact, both 1-minute and 3-minute RSIs teased at oversold without breaking it. That’s not selling pressure, that’s prices falling of their own weight. And that’s different from resuming the decline.

Neither buyers nor sellers gained traction for their efforts, so there is no requirement for Friday to reward either. The last two Fridays ranged relatively narrowly after their opens. There’s room for ranging a couple dozen points above and below Thursday’s close, which will take a lot to resume the decline or to attempt another recovery.

Details and other markets coverage were discussed during the post-market Wrap, click here.

Following are chaRTroom links to monitor the overnight Globex session:
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