Post-market Wrap (recording & summary)

Buyers didn’t gain traction for their effort Wednesday, since the final hour’s entry and the 3:10-3:20 window didn’t trend up. But they were rewarded anyway by later trending up to fresh post open highs at 1984.75.

That neutralized the attraction to the overnight high’s “new Globex trend extreme” 1 tick lower. It required being retested intraday, often the same day (although not necessarily).

Leaving the upside attraction outstanding could have preserved the rally’s momentum in case Wednesday had pulled back. Neutralizing its attraction earlier in the day would have been vulnerable to reacting down durably. But waiting until the session’s last minutes also meant closing above prior highs — that enables recovering from an overnight dip since the gap back to Wednesday’s close will want to be filled.

Other durable paths down are possible, but only post-open, and only after probing a fresh high. Otherwise, Thursday is vulnerable either to backing-and filling again (which is less likely because of it might duplicate the prior session’s pattern), or to gapping up and extending to test the 1993.00 area.

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

Monitor overnight Globex trading in the chaRTroom here.