The wake of Wednesday afternoon”s

The wake of Wednesday afternoon”s FOMC policy statement was at first spiky — up 6 points to 2102.25 down 11 points to 2091.25, and back up to test 2096. Then it was choppy, gradually working higher to 2104.25. But essentially it was hope-y, hovering at session highs through the final hour.

That hovering was above 2099.25, whose recovery makes a test of 2105.50 likely, too. There”s some degree of “ineffectual pessimism” in hovering for so long just under 2105.50 without either testing it or reacting down, and that”s potentially bullish from a contrarian perspective.

So, at least a probe of fresh highs is likely, so long as 2096 holds as support. Gapping up Thursday above 2105.50 would make that probe more likely to extend to new highs. So long as 2096 holds as support. Back under 2096 starts putting into play a test of Tuesday night”s 2084.50 low. which could be probed down to 2077. Unless 2096 holds as support.

Details and other markets coverage were discussed during the post-market Tour:
https://roddavid10.mitel-nhwc.com/join/cxsyrty

Tonight”s links to monitor the chaRTroom are:
XP-Friendly: http://anymeeting.com/780-671-510
xp UN-friendly: https://roddavid10.mitel-nhwc.com/join/shkphyy