Post-market Wrap (recording & summary)

Wednesday had formed an Ascending Triangle. It was unlikely to break higher because it appeared around Tuesday’s highs, during Wednesday morning, when probing above Tuesday’s highs had required gapping up Wednesday morning.

The Triangle could have broken lower, but that attempt ended as the bias environment began lapsing at 2:30. The reward was fresh highs up to 2158.00-2159.00, largely produced by the close.

The break higher came too late to gain traction. Gapping up Thursday could extend higher anyway, targeting a retest of Sunday night’s 2177.75 “new Globex trend extreme.” Otherwise, greeting Thursday’s open already in decline would still target a retest of Tuesday’s oversold RSIs at 2141.50.

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

Monitor overnight Globex trading in the chaRTroom here.