Post-market Wrap (recording & summary)

The 18-point bounce from retesting overnight lows had held its 1910.00 resistance. It had retraced down to 1897.00 — 4-1/2 points back to the low. Sellers had not gained traction since the bias environment was exited within the noon hour’s range, and the final hour was entered there, too.

But that didn’t precluded extending down. And it didn’t enable a bounce. A big, humongous bounce.

Yet, that’s what followed. The timing was not appropriate for strong-handed sponsorship, but a 26-point rally touched 1923.00. That’s positive territory. Or, it was. A reaction down into the close ended the day flat.

It seems like success for a bottoming attempt — probe a new low, and recover its retest. But timing is everything, timing like origins and closes, and they suggest the decline has chipped away at support more than formed a base.

Nevertheless, neither buyers nor sellers gained traction for their efforts. So, gapping open either way Tuesday could be credible for extending in that direction intraday — whether above 1933.50 or 1943.50, or under 1899.00 or 1894.50.

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

Monitor overnight Globex trading in the chaRTroom here.