Post-market Wrap (recording & summary)

Tuesday’s close was testing Thursday’s 2153.50 low. Remember Thursday’s low? Its test became required after Friday’s probe above Thursday’s highs, despite Thursday’s rally not having gained traction. Retracing Thursday’s rally was the consequence to probing above it prematurely, and now that consequence is neutralized.

Anyway, Thursday’s low has held its test through the close. Its test wasn’t rejected, which would have required closing back above another relevant level. But a lot of extra selling pressure was expended down to 2141.50, and absorbed.

Retesting 2141.50 through Wednesday morning can’t be dismissed, especially with oversold RSIs there requiring it eventually — and especially if not already rallying pre-open. But maintaining a gap up could instead become focused on retesting Sunday night’s 2177.75 high before resuming a much larger decline.

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

Monitor overnight Globex trading in the chaRTroom here.