Post-market Wrap (recording & summary)

Did Wednesday form a trend change setup? It may have begun one. It’s a long way down to last week’s 1982.50 lows before sealing a top. But rallying to a fresh high close above 2026.50 is easier, and that would raise the trend change signal considerably.

Actually, rallying to a fresh high close is nearer. It’s 15-18 points away from Wednesday’s 2008.50 / 2011.50 close, and 26-29 points from last week’s lows. But rallying to a fresh high close is made more difficult by having just ended an intraday 20-23 point slide.

Fun fact: Wednesday’s close is essentially a Fibonacci 38.2% retracement between the two. It’s natural support, so maybe an immediate recovery isn’t actually more difficult.The 61.8% retracement is 1999.25. Its test is likely if not already rallying at Thursday’s open.

Details and other markets coverage are discussed in the post-market Wrap recording here:
https://roddavid10.mitel-nhwc.com/join/fbkcwpw

This evening, monitor overnight Globex trading in the chaRTroom at:
non-xp ilinc