Post-market Wrap (recording & summary)

The morning’s choppiness didn’t resolve in the decline’s resumption. But neither did it resolve in the decline’s retracement. It just resolved in more choppiness.

That choppiness wasn’t without form, that being an inverted Head & Shoulders. Three of them actually, which doesn’t make any one of them any likelier to reverse the trend back up. But a blip-up held resistance at the noon hour’s 2047.75 high before reversing back into the range.

The late reversal didn’t extend back under a prior low which would have merited a hold-short. But the afternoon’s Head & Shoulders created a pivotal support trendline around 2043.00 whose break could resume the decline overnight. Otherwise, reversing the trend up requires immediately recovering 2057.50, and any shallower strength remains likely to resolve down.

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

Monitor overnight Globex trading in the chaRTroom here.