Post-market Wrap (recording & summary)

Thursday’s gap up to 2167.50 extended only high enough to test and to hold “higher prior lows” at 2172.50. Its eventual reaction down attacked 2164.00. The cash session close was within 5 ticks of the opening print, which the futures close probed. The session went nowhere, despite the momentum that had greeted its open, and the volatility it produced.

Along the way, the session did put into play a bias-up target at 2175.50. It became “unfinished business above,” and not for lack of trying to reject it. It can be met overnight and its attraction neutralized in time for Friday’s open to trigger a durable decline. Otherwise, triggering a decline at Friday’s open would remain likely to recover.

Gapping up Friday would be the most credible setup to resume the rally without further delay. It could be very productive, since being a Friday, the morning’s bias would tend to extend through the noon hour. But not trending up to fresh highs through Friday’s open would be vulnerable to reversing back down.

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

Monitor overnight Globex trading in the chaRTroom here.