Post-market Wrap (recording & summary)

So, the big question on everyone’s mind after Tuesday’s slide to 2136.00 is whether the rally is salvageable. Even if only to retest last week’s ~2169.00 high, which was within proximity of unfinished business above at 2175.50.

Since the potential for a detour was 2138.00-2139.00, which was recovered through Tuesday’s close, the answer is yes. Yes, the rally can be salvaged. But since the decline gained traction for its effort, all but requiring trending down deeper Wednesday morning… well, you can see the difficulty.

There’s a reason I call it “Wreversal Wednesday,” for the session’s propensity to reverse a seemingly morning trend through the afternoon. If there’s an opportunity to salvage the rally from probing lower, then Wednesday’s the day to do it. But not back in rally mode at Wednesday’s close would suggest a much more bearish picture in-play.

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

Monitor overnight Globex trading in the chaRTroom here.