Post-market Wrap (recording & summary)

The late-afternoon retest of this morning’s oversold RSIs at 2126.75 was itself accompanied by oversold RSIs. Any bounce was again doomed to failure, and fresh lows were likely to test this morning’s 2122.50 bias-down target. Ending the cash session above the morning’s lows at 2127.75 quickly broke lower to touch 2122.50 into the futures close.

AMZN’s earnings miss may have been the catalyst for the post-close break. That didn’t help alleviate any anxiousness ahead of GGOGL’s earnings, each having greeted earnings from positions of weakness. Individual company earnings rarely affect the broader market’s price trend, so the knee-jerk reaction is vulnerable to reversing back up Friday. Otherwise, lower lows could extend into the afternoon.

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

Monitor overnight Globex trading in the chaRTroom here.