Post-market Wrap (recording & summary)

The gargantuan character of Monday’s rally was attributed as much to its catalyst as to its timing, The FBI weighed in favorably on Clinton, after a relentless two-week decline from 2150.00 had fulfilled its 2082.00 target. That perfect storm may be responsible for fulfilling a session-long rally, despite the setup’s intervening weekend which often renders the setup unreliable.

But intraday timing windows complied with the session-long rally template by there being only one exception to each probing its prior timing window’s high. Essentially, that was the final 60-90 minutes which pulled back.

Surging to fresh session highs into the close at 2130.00 was isolated to after the position-squaring window had begun lapsing. Dismissing that would allow the session to comply fully with the session-long rally template. Continuing to comply would suggest Tuesday morning will probe higher, possibly trending, next attracted to 2134.00 and 2138.00.

A pullback could test Monday’s mid-day “lower prior highs” down to 2123.50 without even hinting of reversing the trend. Dipping deeper to 2118.25 would start to threaten, but still have room down to 2113.50.

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

Monitor overnight Globex trading in the chaRTroom here.