Post-market Wrap (recording & summary)

Tuesday’s rally created a new upside attraction at 2155.00. Being only 1 point above the intraday high might not seem very bullish. But the pessimism that inhibited fulfilling it can be bullish from a contrarian perspective. “Ineffectual pessimism,” since neither of two timing windows that attacked it were repulsed back down.

Still, the one-day recovery is too tenuous to be very reliable for recovering back to last week’s highs. But it is credible, despite not being optimal. Gapping up Wednesday would be credible for extending higher intraday, and narrowing the distance back to “unfinished business above” at 2175.50.

Trending down has room to 2143.50 before becoming vulnerable to resuming the decline. And trending down at this stage would likely be done very aggressively.

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

Monitor overnight Globex trading in the chaRTroom here.