Post-market Wrap… Non-stop.

Even after satisfying potential to 1985.00 and hovering there through Wednesday’s cash session close, a post-close surge touched 1989.00. I had cautioned much earlier not to underestimate the upside momentum. The rally has been sponsored by position jockeying ahead of Friday’s expiration. Excessive optimism just wasn’t a concern. Mechanics will always win out over sentiment.

Sometimes mechanics can become extended, too. Closing AT 1985.00 instead of above it, or below it without yet satisfying it, doesn’t require extending higher. And Wednesday afternoon’s buyers didn’t gain traction to earn the same reward that Wednesday owed to Tuesday afternoon’s buyers.

Meanwhile, having triggered a bullish WedEX, the rally could afford to rest on its laurels and allow a pullback Thursday morning. It’s the last opportunity for unsponsored price action, ahead of the afternoon’s FOMC events.  Extending higher anyway or eventually would next target 1996.00 and potentially 2020.00.

Details (yes, there’s still details) and other markets coverage (yes, there’s other markets) were discussed during the post-market Wrap here:
https://roddavid10.mitel-nhwc.com/join/yptkjpk

This evening, use these links to monitor overnight Globex trading:
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