Post-market Wrap (recording & summary)

Today’s market Wrap was held one hour early at 3:03 PM ET…

Monday afternoon’s 2182.00 bias-up signal was finally touched, but too late for its resistance to crumble. Not actually probing it — not stretching the rubber band tightly — avoided reversing the trend back down. Its reaction did test the noon hour’s 2179.25 low and bounce back into the afternoon range. The last half-hour was greeted by a slightly deeper test that fluctuated widely around the noon hour low.

No traction had been gained by the afternoon timing windows. So, resuming the morning’s rally requires gapping up Tuesday above Monday’s 2182.00 high. Extending down overnight need not resume last week’s decline, but retesting last week’s lows would likely break lower. Monday’s bounce was not the product of accumulation. It was only follow-through from Friday’s oversold test of support from filling the three-week old gap back down to 2160.00.

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

Monitor overnight Globex trading in the chaRTroom here.