Closing at 2077 Wednesday didn”t

Closing at 2077 Wednesday didn”t qualify as breaking under it, especially since that was the cash session close. Extending down under it through Wednesday”s futures close wasn”t predictive. But it was probably a little more than coincidental for Wednesday”s decline to resume overnight, greeting Thursday”s open sharply lower.

And having then broken under 2077, the next lower objective at 2035 could be put into play. At least, closing under 2077 would put it into play. No longer necessary, as 2035 was already fulfilled during Thursday”s final minutes. Its final cash session minutes.

Futures extended down sharply from there to 2024.50. Once again, it was too late to signal the next lower objective in-play. And once again, that doesn”t prevent extending down, anyway. Expirations tend not to contain trend reversals, and the trend is currently down. That wouldn”t preclude snapping back up during Friday morning before the bearish WedEX”s influence arrives that afternoon. Nor would it prevent inverting the WedEX to bullish — not impossible, but not likely.

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