Post-market Wrap (recording & summary)

Monday afternoon was so predictable. It was so predictable, because Monday morning was not. Actually, Monday morning’s wide swings responded to calculable inflection points. But those tests never sustained a breakout in either direction.

So, Monday afternoon succeeded where the morning had failed. After struggling all morning to break free from its range, price action glided higher through the afternoon — almost effortlessly.

But did the afternoon rally gain traction for its effort? The bias environment began lapsing above the noon hour’s high. But the final hour’s entry and the 3:10-3:20 timing window only maintained. That’s enough for the burden of proof to be on sellers, but not enough to require higher highs.

Higher highs would target the 2080.25 area, and probably lead to retesting two-week old highs. Being so much potential upside, any bearish scenario is likely to be aggressive. So, shallow weakness is likely to resolve up.

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

Monitor overnight Globex trading in the chaRTroom here.