Post-market Wrap (recording & summary)

Tuesday’s “session-long rally” setup succeeded at producing each of its required elements, i.e. all but one timing window probing its prior timing window’s high. The exception was the afternoon bias environment instead of the more common noon hour. And price didn’t trend up into the close as it often can.

A valid session-long rally is often followed by trending up through the next morning’s bias environment. It’s not required, and fulfilling it can follow an overnight dip. But if sellers haven’t retaken control at Wednesday’s open, then the morning will likely probe fresh highs.

Tuesday’s rally didn’t gain traction for its efforts, which requires Wednesday’s open to gap up if the rally is durable. So, probing fresh highs Wednesday morning without gapping up would be likely to trend back down in the afternoon.

All of the above is discussed in the Wrap. One other point we’ll discuss in the morning is that Tuesday was a breakout session. While a second consecutive higher close would confirm, be aware that the past three weeks have begun with either a Monday or Tuesday surge that immediately failed. C’est la vie!

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

Monitor overnight Globex trading in the chaRTroom here.