Post-market Wrap (recording & summary)

Monday afternoon hovered in negative territory, just above the 2246.25 session low at 2248.00, through multiple consecutive timing windows. This is patient pessimism, which is potentially bearish from a contrarian perspective. Meanwhile, repeatedly bouncing to the range’s 2251.50 upper-end repeatedly failed to break higher, despite piercing it higher and higher each time. This is ineffectual optimism, which is also potentially bearish from a contrarian perspective.

Hold-short was avoided although the only unfinished business above is an eventual new trend high close. But that is not at all precluded from waiting for a multi-session pullback to develop. If that’s what is already underway, then its likely objectives are 2215.00 and probably also 2205.00. Rallying first would target a retest of Sunday night’s 2265.00 high.

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

Monitor overnight Globex trading in the chaRTroom here.