Market Wrap (recording & summary)

Thursday night’s lows didn’t bottom at an arbitrary level, but upon testing and retesting Friday morning’s 2430.75 bias-down target. Rallying 16 points into the morning’s bias environment high was counter-trend, trying to reverse up in the context of an ongoing decline. It failed.

More than failing the attempt to reverse up, the bias environment trended down. More bearish context. So, an afternoon bias environment recovery attempt would be doomed to failure. If there were one. And there was. <<==(click for a video lesson)

Its reaction down retraced to the morning’s post-open 2436.00 low. And no deeper, before bouncing into the close. That is already dubious support, and now it has been chipped away. It won’t be likely to withstand a retest of Thursday night’s lows if retested.

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

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