Post-market Wrap (recording & summary)

But for a few ticks, Wednesday’s 2058.00 open was still being overlapped at Wednesday’s close. Exceeding the morning’s 2056.00 bias-up target had renewed the bias-up signal, but its 2061.25 renewed bias-up target had been met already and held. That setup had warned of that morning trending attempts would fail.

Not that trending wouldn’t be attempted, but that it would fail. And it was attempted and it did fail. A lot of selling pressure was expended intraday without triggering a bias-down and without leaving positive territory. That already produced an afternoon bounce, and didn’t gain traction for the effort, so extending higher Thursday largely relies on already extending higher overnight.

There having been no net post-open improvement Wednesday, and Thursday being the day before March’s Employment Situation report, backing-and-filling wouldn’t be surprising. Already trending higher Thursday would risk discounting bad payrolls Friday, which could only fulfill expectations but not exceed them.

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

Monitor overnight Globex trading in the chaRTroom here.