Post-market Wrap (recording & summary)

Monday morning’s high touched the 2209.50 target of Friday’s bias signal. Monday afternoon’s high attacked it. But positive territory was never recovered. And the afternoon’s no-bias environment lapsed without trying another recovery, so a decline filled the void. And it extended until probing he 2199.50 overnight low by 5 ticks as the position-squaring window lapsed. Monday’s last several minutes bounced to 2201.00.

More “unfinished business above” was created, and left outstanding. The gap back up to Friday’s 2210.50 cash session close, and Monday morning’s 2211.50 bias-up signal, are both likely to be tested before a durable downleg can begin. This is in addition to the 2220.00 objective put into play by closing last week above 2192.00.

But, first, 2192.00 is unlikely to hold again if retested. Just attacking it would all but ensure probing it down to 2187.50. Avoiding its test would all but require gapping up Tuesday above Monday afternoon’s 2207.00 high — which would also form a “session-long rally setup”.

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

Monitor overnight Globex trading in the chaRTroom here.