Post-market Wrap (recording & summary)

Tuesday’s late bounce from the 1861.50 low extended up to the 1877.00 bias environment exit. That’s natural resistance and there’s nothing unnatural about testing it before resuming the decline.

Of course, extending the late rally makes it easier to recover higher levels that would delay rewarding Tuesday’s sellers for gaining traction. The burden of that proof is on buyers. Meanwhile, the late bounce essentially expended all possible buying pressure during a window when it could not gain traction for the effort. That’s the stuff of weak hands, like the impatient buyers that caused the afternoon’s drop to stop optimistically short of touching the overnight low 2 ticks lower. And that’s bearish from a contrarian perspective.

Rewarding Tuesday’s sellers can begin overnight, within limitations. Details and other markets coverage are discussed in the post-market Wrap recording here:
https://roddavid10.mitel-nhwc.com/join/htpbzcz

This evening, monitor overnight Globex trading in the chaRTroom at:
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