Post-market Wrap (recording & summary)

It’s difficult to trend in either direction beyond last week’s range, when BOJ and Fed statements are looming. That doesn’t preclude there being trending attempts. And Monday morning’s attempt to extend its 2139.00 gap up had potential to test last Monday’s upper-end around 2150.50. But it peaked short of 2147.00 before falling back into Friday’s range at 2128.00.

Another probe above 2134.00 was prevented — probing above it by 13 points and back under it by 6 points back under it, closing within 1-2 points of it, and essentially unchanged on the day. So long as Tuesday’s open isn’t already breaking down sharply, a more substantial correction of Monday’s noon hour plunge up to 2141.50 is likely, as is a retest of the morning’s overbought RSIs at 2146.75.

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

Monitor overnight Globex trading in the chaRTroom here.