Post-market Wrap (recording & summary)

Perhaps anxiousness ahead of Friday’s pre-open Employment Situation report is responsible for paralyzing Thursday afternoon’s price action. The 10-point surge into the noon hour came to a sudden stop as the afternoon fluctuated choppily within a narrow 3-point range.

Similarly, that same anxiousness would be as responsible for exacerbating the late-morning reaction to headlines (walking back ECB taper talk) that triggered the 10-point surge from a fresh low. So, price action wasn’t predictive.

Some things were accomplished nonetheless. The attraction below at the gap down to Tuesday’s 2143.50 close was neutralized. It’s less likely to attract price down, but also less likely to offer support if retested. Also somewhat of an accomplishment was yet more restrained optimism at resistance around 2156.50. At last an obligatory probe above it becomes increasingly likely.

But there’s not much  more that is new. And there isn’t likely to be, not ahead of Friday’s report. We don’t even do preliminary levels in the blog. But we’ll likely have much to plan at the pre-market Tour.

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

Monitor overnight Globex trading in the chaRTroom here.