Post-market Wrap (recording & summary)

HAVE A GREAT THANKSGIVING HOLIDAY… The chaRTroom will be open with Globex through 1:00pm ET, which re-opens Thursday at 6:00pm.

Attacking the afternoon’s 2101.25 bias-up signal to within 1 tick had a chilling effect. Even the FOMC Minutes didn’t shake price action loose from a 2-3 point range since the noon hour’s exit.

Hovering at session highs could have just as easily drifted to the session’s lower-end. Sponsorship for a breakout is difficult to attract when everyone’s running out the door. But halfway through the position-squaring window, price did start firming. It barely pierced 2202.25 and closed positive 1 point vs. Tuesday’s cash session close.

An offsetting test of Wednesday morning’s 2204.25 bias-up signal had been put into play by holding a test of the bias-down signal. An intraday retest of Monday night’s 2203.00 “new Globex trend extreme” is still required, regardless of having pierced it by 2 ticks Tuesday’s night. The other “unfinished business above” is the 2220.00 objective put into play by closing above 2192.00.

By the way, 2192.00 has been tested thoroughly as support. If tested again — whether before or after testing 2220.00 above — it’s likely to be probed by a downleg instead of holding again.

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

Monitor overnight Globex trading in the chaRTroom here.