Post-market Wrap (recording & summary)

Monday’s close above 2134.00 undermines the trend change setup. Most other elements of the intraday rally were were not bullish.

The recovery stopped short of Friday’s 2157.50 opening print, which is both a natural attraction and resistance. Last week’s “higher prior lows” were tested, neutralizing their attraction above. Only the bias environment exit probed higher so no traction was gained for the effort, meaning that the day’s buyers were fulfilled. The overnight low at 2100.25 was the least bit pessimistic to qualify as testing “lower prior highs” which is potentially bearish from a contrarian perspective. And the overnight low was complex enough to qualify as a “new Globex trend extreme” requiring intraday retest.

The gap back to Thursday’s 2173.00 close doesn’t require being filled, but probably will be filled anyway if Tuesday’s open were to maintain a gap up. Gapping down under Monday afternoon’s 2130.50 low would form a “session-long decline” setup, but that’s not the only path down. Signals are too mixed to be overwhelming in either direction.

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

Monitor overnight Globex trading in the chaRTroom here.