Post-market Wrap (recording & summary)

There was much too much similarity between Monday and Tuesday’s patterns. Similar patterns that appear sequentially tend to resolve differently. But Tuesday was Monday’s doppelganger.

So, it was a second consecutive session for not gaining traction. This time, the afternoon hovered optimistically throughout. Wednesday is vulnerable to the same intraday gyration and resolution as was Tuesday.

Meanwhile, an up/down-crash count has emerged. It’s at least 10 consecutive trending sessions, with 1-2 non-consecutive counter-trend sessions. S&Ps don’t fit the set-up neatly, but NDX and the Dow are there.

Closing above 2143.00 puts into play the next higher objective, which could reach 2168.00. Of course, that’s subject to a second consecutive higher confirming close Wednesday, And the second session of B\limited afternoon volatility isn’t helping.

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

Monitor overnight Globex trading in the chaRTroom here.