Post-market Wrap (recording & summary)

Thursday afternoon’s no-bias environment had probed 2 points above its 2256.00 bias-up signal. This was no-bias trending that required being retraced, at least to the signal, if not also to its 2255.00 1:20 print. It was reversed down to 2253.00.

2253.00 was also the upper-end of a shallow consolidation at session lows. Its support is at least obligatory, and it did produce a reaction up to 2256.00. But until also recovering the 2258.00 high, the 2253.00 support is only obligatory, and the bounce only temporary. Not immediately recovering 2258.00 Friday would target fresh lows at 2249.50.

Trending is difficult in a low-volume environment, and when participation is evaporating at an exponential pace because of the impending three days of illiquidity. Trending that does get started in this environment is difficult to stop during a timing window, let alone to reverse — especially during the same timing window.

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

Monitor overnight Globex trading in the chaRTroom here.