Post-market Wrap (recording & summary)

Wednesday morning’s sellers didn’t push down hard enough early enough, or hold down long enough, to reverse the intraday trend. They did absorb the probes above 1904.75, but didn’t react down under 1902.00 in time to require an intraday probe under Tuesday’s lows. Then despite extending that reaction to test the 1892.00 and 1886.00 afternoon bias parameters, both had been recovered as the bias environment began.

Sellers gained no traction for the energy they expended. The minimum consequence was to retest the selling’s origin, i.e. the morning’s highs that were testing 1904.75. The range for noise above it at 1909.75 was likely to be included. The target was fulfilled. Still overlapping it at the close prevented putting into play the next higher target, or signaling that its test had held.

Extending higher anyway would next target 1915.00 with room for noise up to 1921.25. Rallying any higher would undermine Wednesday’s rally from being retraced anytime soon — soon enough for its retest to hold and potentially launch a more durable rally. Meanwhile, having trended up into Wednesday’s close, gapping down Thursday under the afternoon’s 1893.00 low could form a “session-long decline.”

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

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

NOTE: I WILL BE TESTING WEBEX SOFTWARE INTERMITTENTLY, SO RE-TRY IF UNAVAILABLE.