Post-market Wrap (recording & summary)

Monday’s final hour entry at 2098.50 was a relevant high. It was the product of errant ticks, its RSIs were overbought, and it immediately reacted down, and its pullback limit was almost violated. Then it was exceeded.

RSIs were overbought at the 2100.00 higher high, too.Its pullback limit was violated on the second probe under it. The cash session close dipped to 2096.00, and post-close action slipped further to 2094.00.

Overbought RSIs at the high require its retest, although RSIs were making lower highs. Buyers gaining traction suggests the high will be probed, as a reward for exiting the bias environment and entering the final hour at successively higher highs. Closing above 2088.00 puts into play new highs above 2134.00, so long as Tuesday doesn’t close back under 2088.00.

None of which requires extending higher without delay. But a dip must be deep — whether begun immediately or after initially rallying — if new highs are going to be avoided. As usual for this rally leg, a real durable reversal down would likely begin abruptly and aggressively. Any less initial bearishness would be likelier to resolve higher.

Details and other markets coverage are discussed in the post-market Wrap recording here:
https://roddavid10.mitel-nhwc.com/join/yptssht

This evening, monitor overnight Globex trading in the chaRTroom at:
non-xp ilinc