Post-market Wrap (recording & summary)

False alarm, or false start?

My prior blog post had described many of the reasons why the rally is vulnerable to reversing down. A 5-stage pattern had been plateauing up to 2047.50, awaiting a 5th stage targeting at least 2042.75 and potentially 2037.75. The final hour began by dropping quickly to attack 2037.75. The balance of the session ranged sideways.

Was that just the beginning of a much deeper drop yet to come, its sponsorship inhibited by the fast-approaching close? Or was that all there is? It could be either — no unfinished business is outstanding, and neither sponsorship gained traction.

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

Monitor overnight Globex trading in the chaRTroom here.