Post-market Wrap (recording & summary)

Monday’s backing-and filling started abruptly by gapping down. But its test of relevant support back to Thursday’s close held. And despite two more timing windows having elapsed since then, price only firmed from the test instead of bouncing back up. That’s “ineffectual pessimism.”

The pessimism won’t be so ineffectual. Monday’s lows did chip away at support, so breaking under them is likelier if retested. And having bounced into Monday’s close, gapping down Tuesday under Monday afternoon’s lows could form a session-decline.

Otherwise, Tuesday’s session is vulnerable to a delayed resumption of Monday afternoon’s firming, replete with pent-up buying pressure pushing price higher. And with participation somewhat normalized, trending can at least be attempted.

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

Monitor overnight Globex trading in the chaRTroom here.