Post-market Wrap (recording & summary)

Tuesday’s bounce came to within 1 point of “unfinished business above” at 2210.50 as the bias environment began lapsing. That didn’t matter, as it was left outstanding. And it didn’t prevent against reversing down sharply.

Dropping back down to 2201.25 reached the morning’s “lower prior highs” during the position-squaring window. That stopped optimistically short of being unchanged just several ticks lower.

Firming into the close held 2203.75, which was the morning’s bias-up signal. This essentially rejects the interim probe above it. That’s not just 6 points of probing, but several hours, all failing to gain traction for the effort.

Once again, only gapping up above the prior afternoon’s high — which, in this case, is 2208.50 — would prevent resuming the decline Wednesday with a vengeance. Gapping up above 2208.50 and also maintaining the gap up, likely would at least attack 2220.00 intraday.

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

Monitor overnight Globex trading in the chaRTroom here.