Post-market Wrap (recording & summary)

The bias environment began lapsing by probing fresh session lows down to 1821.75. That was short-lived. Despite the position of weakness, the last hour rallied back up through the decline’s 1825.75 target to probe the open’s 1850.00 high up to 1855.00.

Not bad.

Its reaction down to 1844.00 barely began firming by the cash session close. But it was largely retraced after the close, attracted to retest the 1855.00 high whose RSIs were overbought.

Buyers didn’t gain traction for the late effort. So, extending higher Tuesday requires gapping up, preferably back above Friday’s 1866.00-1868.00 “higher prior lows.”

Regardless, it’s still not a durable bottom. And it’s for the same reason as the nearly three-week old 1805.00 low, which also magically recovered that afternoon from having substantially extended a deep gap down. Neither session represents capitulation

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

Monitor overnight Globex trading in the chaRTroom here.