Post-market Wrap (recording & summary)

Monday wasn’t likely to confirm Friday’s breakout with a second consecutive higher close. Not even if Sunday night or Monday morning were to probe above Friday’s highs. Both Sunday night and Monday morning did probe above Friday’s highs, but Monday still closed negative. So, Friday’s new trend high close still requires at least one more higher close, but it wouldn’t be any likelier to become trending.

Meanwhile, the anchor of Monday’s open — maintaining its gap up above all prior highs through the first 15 minutes — kept its foot on the brakes as price slowly drove downhill Monday. The gravity attracting price down that hill is its 2171.00 objective, which was created in the morning. Not being met the same day makes 1-2 lower attractions likely to be met, too. That’s 2166.00 and 2160.00 from Friday’s pre-open surge and the gap back down to Thursday’s close.

Not extending down Tuesday, and instead bouncing first, would be attracted to Sunday night’s 2183.00 “new Globex trend extreme”, A new trend high close would be likelier than not. But it would have to be aggressive to even begin suggesting a top is not forming.

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

Monitor overnight Globex trading in the chaRTroom here.