Post-market Wrap (recording & summary)

The series of higher lows and higher highs since Monday’s low may have come to an end. Thursday afternoon’s slide from 2093.50 fell 28 points into the close. A last-minute bounce from 2065.50 finished back above the 2067.00-2069.00 lower target under yesterday’s lows.

Testing 2067.00-2069.00 could still launch a new rally leg, so long the test held, and so long as the launch was done appropriately. RSIs did diverge negatively at the low, so there is no “unfinished business below.” And the sudden relentlessness of the afternoon’s slide actually makes it easier to retrace.

But the afternoon’s downtrend remains intact. The afternoon’s sellers gained traction — they’ve already been well-rewarded, so gapping up above the bias environment’s 2088.00 high could invert that traction. Otherwise, Friday’s only other bullish bounce potential is from an early test of 2056.50. Yikes.

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

Monitor overnight Globex trading in the chaRTroom here.