Post-market Wrap (recording & summary)

Monday’s last surge got carried away with itself. Back above 1998.25 was already likely to end the afternoon’s slide from 2008.00. But the likely consequence was just gravitating up to 2006.00. Instead, the last half-hour trended up to 2012.00.

Post-close action surged to 2016.00.

New session highs were not likely. The morning’s range did hold as resistance. Without the late squeeze gaining traction for the effort, it only expended all available buying pressure. Retesting Friday’s 1991.00 low remains intact. More so, its retest should begin by gapping down to and through Monday’s lows.

Holiday seasonality is a wild card. There is time for a downdraft Tuesday before that seasonality tries to seal the lower-end of a range. And regardless of Monday closing at 2006.00, 2012.00 or 2016.00, retesting Friday’s 1991.00 range Tuesday is likely to begin by gapping down sharply. The alternative is to gap up above 2027.00.

Details and other markets coverage are discussed in the post-market Wrap recording here:
https://roddavid10.mitel-nhwc.com/join/rkbmrcv

This evening, monitor overnight Globex trading in the chaRTroom at:
non-xp ilinc