Market Wrap (recording & summary)

Thursday’s post-close plunge was “the other shoe to drop.” The session had been greeted by N. Korea preparing a launch, so it was a nicely book-ended by the actual launch. Friday’s open was greeted with almost a complete recovery of the second plunge. It was extended back to prior highs during the morning, and to new highs into the close.

The new high close fulfilled the minimum requirement that was created by Tuesday’s confirmed breakout, which had required an eventual higher close. It was barely replaced by a new trend high close on a Friday, a setup that also requires an eventual higher close. Expirations don’t normally coincide with trend changes, anyway.

Meanwhile, the passively bullish WedEX was influential Friday afternoon. So, it’s likely to be influential Monday morning, too. We’ll discuss the specifics of that setup, and other analytical observations, during this weekend’s Saturday Review at 9:30. ITS URL IS CHANGING, so be sure to login from the email you’ll receive in the morning.

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