Post-market Wrap (recording & summary)

Tuesday afternoon’s short-squeeze setup wasn’t exploited immediately. But it was exploited thoroughly. Fresh lows testing 1907.00-1912.00 support were isolated to the bias environment, and the final hour was entered above the ~1919.50 bias environment highs. But it was the 3:10-3:20 window that surged.

The 3:10-3:20 window surging to fresh highs also confirmed the traction gained by entering the final hour above the bias environment’s high. Although vulnerable to inverting down, Wednesday morning is due to reward Tuesday’s rally for having gained traction.

Inverting down must be signaled. But the signal is made possible by Tuesday afternoon’s rally having met and held resistance at 1933.50. A catalyst has already appeared, with Iran capturing US sailors.The reaction down is already testing 1922.00.

Rejecting the short-squeeze’s recovery would put into play a retest of the lows down to 1881.00-1885.00. There’s no bearish reason to probe any higher first, which would next target 1948.00, potentially also 1975.00 and 1985.00.

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

Monitor overnight Globex trading in the chaRTroom here.