Post-market Wrap (recording & summary)

Did Obama’s press conference prevent a late rally? Firming into the final hour probed fresh afternoon highs up to 2164.00. A buy signal had triggered, but RSIs were unable to reach overbought. Extending higher wasn’t required, but hovering above it for a half-hour didn’t reject the signal.

Only when Obama began speaking did the hovering stop. Price slid sharply to 2157.75. And then it bounced to 4 points, ranging sideways into the close. But now the speaking has stopped. Retracing the late break from 2164.00 — which is not assured — would target a retest of the morning’s high up to 2169.00. And that would again position the market for retesting the 2180.00 area, and possibly higher.

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

Monitor overnight Globex trading in the chaRTroom here.