Post-market Wrap (recording & summary)

Tuesday morning’s surprises weren’t surprising. We expected the 2041.50 bias-up signal to hold its test and trigger no-bias, and we expected its reaction down to hold a test of 2034.00-2035.00. Both were probed by a couple of points, but they held.

Tuesday afternoon’s lack of surprises was surprising. Invalidating the attractions below only extended higher, and did not reverse intraday direction again.

A late dip from 2058.50 pierced the noon hour’s range down to 2052.00. But it was too late for sellers to gain traction, and it was not aggressive as the pattern allows at this stage. So it’s possible that a new upleg is about to begin, and gapping up Wednesday would be credible for launching it.

Of course, we’re still in the ongoing trading range, which has repeatedly greeted each session with a different picture than was left at the prior close. Not already trending up at Wednesday’s open could find sellers back in control.

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

Monitor overnight Globex trading in the chaRTroom here.