Post-market Wrap (recording & summary)

Wednesday morning trapped shorts. Gapping down slightly to 2181.50 was recovered to probe slightly above Tuesday’s prior high to 2186.75. The recovery was rejected resoundingly, reversing down through the noon hour to test support at the morning’s 2177.75 bias-down signal.

Ending the session there would have formed a bearish Pivot Reversal setup. It’s still bearish, so long as the initial rally’s peak wasn’t recovered through the close. It wasn’t. So, spending the balance of the session rallying89 points to 2185.50 wasted buying pressure.

More so, 2185.50 neutralized the afternoon bounce’s attraction. And no traction was gained for the effort. Gapping up Thursday above Wednesday morning’s 2186.75 high could still probe higher during the morning, and would still be vulnerable to rejection. Meanwhile, probing under Tuesday’s 2177.50 low is likely Thursday.

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

Monitor overnight Globex trading in the chaRTroom here.