Post-market Wrap (recording & summary)

Retesting Friday’s 1968.75 pre-open high had targeted 1971.00. Its test held initially, but was probed eventually by 7 points up to 1975.75. That’s a good example of thoroughly testing a target. Reacting down probed under 1971.00 by 1 point. That’s the definition of an attractive target.

Surging into the cash session close attacked  the 1975.50 high. Surging into the futures close to touch 1978.50 only reflects a short-squeeze. The original probe above 1971.00 has yet to be exceeded when it matters.

Having trended up into the close, gapping down under the bias environment’s 1966.50 low could form a “session long decline” setup which hasn’t been seen in awhile. And with every leg still overlapping 1971.00, no “unfinished business above” would be left outstanding.

Being vulnerable to reversing down is not a requirement. Not trending back down Wednesday would next target 1993.00, and potentially 2012.00-2014.00.

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

Monitor overnight Globex trading in the chaRTroom here.