Post-market Wrap (recording & summary)

The open’s 5-point surge to 2168.00 had reacted down 4 points before the morning’s 10-point plunge to 2154.00. Bouncing into the noon hour retraced the plunge, but only the plunge, before an afternoon drop to 2156.00. That was also recovered to 2164.00.

Only to 2164.00. Even that reacted down into the close, which was fluctuating around unchanged. Tuesday ends without momentum, and without traction, despite its 14-point range — which one leg traveled in 90 minutes.

The proximity to fresh highs is further than the prior two closes. Only a little, after plenty of selling pressure had tried breaking lower, with plenty of time to get it done. I can’t get fresh highs (2171.25, 2175.50) off my radar, not without gapping down under Tuesday afternoon’s 2156.00 low, which isn’t likely ahead of Wednesday’s FOMC policy statement.

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

Monitor overnight Globex trading in the chaRTroom here.