Post-market Wrap (recording & summary)

Not for lack of trying… Friday’s breakout close wasn’t likely to be confirmed after Monday’s open gapped down. Despite not trending down through the morning, a durable rally wasn’t likely to resume. The afternoon did rally, and it did probe Friday’s 1933.00 high up to 1940.00. But the close was overlapping 1933.00 instead of confirming its breakout.

Closing above 1924.00 was repeated, but not confirmed, so 1946.25 isn’t in-play. That doesn’t prevent its test anyway, which would have been likely also to visit 1969.00, just not so much now.

Monday’s 1912.50 low stopped optimistically short of touching last week’s “lower prior highs.” A bounce is still likely from their test, but albeit less likely for the bounce to resume Friday’s breakout.

For gaining traction, Monday afternoon’s buyers are likely to be rewarded with probing fresh highs Tuesday morning. That would be inverted by immediately breaking back under Monday’s 1922.50 prior lows.

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

Monitor overnight Globex trading in the chaRTroom here.