Post-market Wrap (recording & summary)

Closing above 2056.00 Tuesday could have undermined the morning’s break under it. Actually, closing above 2059.50 would have at least negated the downward momentum. Regardless, Tuesday’s close was at 2056.00, not being recovered, certainly not decisively. The retest of early-April’s consolidation is likely to give way.

Potential for another counter-trend bounce can’t be discounted, especially since 2056.00 was still being tested at Tuesday’s close. But unless Wednesday’s open were to gap up sufficiently to invalidate Tuesday’s break — similar to how Monday’s rally was invalidated — then the resolution is likely to be down.

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

Monitor overnight Globex trading in the chaRTroom here.