Post-market Wrap (recording & summary)

Thursday’s rally contradicted the lack of traction gained by Wednesday’s buyers. It doesn’t change whether they gained traction — the overnight slide was appropriate.  But fresh highs produced before the last hour would normally fail. That’s not unfinished business below — it is a reflection of underlying strength.

Thursday’s second consecutive higher close following Wednesday’s breakout from a multi-session range is also a reflection of strength. The confirmation now requires an eventual third higher close. Not necessarily on Friday, but a new trend high close on Friday would entrench the uptrend by creating a new requirement for another eventual new high close. The bullish WedEX stands ready to assist, so long as the morning isn’t too weak to climb all the way out of.

Unfinished business below at 2027.00-2028.50 must still neutralize Thursday afternoon’s “no-bias trending.” Unfinished business above at the 2036.75 high’s overbought RSIs must be neutralized, too. Stopping pessimistically short of the latter late Thursday suggests it will be exceeded more substantially, presumably after neutralizing the former.

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

Monitor overnight Globex trading in the chaRTroom here.