Post-market Wrap (recording & summary)

There is no unfinished business above. Last Monday’s high was barely pierced, but simply touching it would have fulfilled its required retest. Drifting lower from there throughout the day doesn’t suggest the uptrend’s momentum has lapsed, or that new counter-trend sponsorship has arrived.

But reacting down instead of trend higher was more relevant for what it prevented. Not trending above last week’s high avoided a clean breakout. Closing above the interim range doesn’t qualify as a breakout, but extending higher Wednesday could marginalize sellers in the near-term.

Otherwise, a top continues forming. Breaking back down without further delay would be an entirely credible start to a durable downleg. But probably only if gapping down, since sellers didn’t gain traction for their efforts Tuesday.

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

Monitor overnight Globex trading in the chaRTroom here.