Market Wrap (recording & summary)

What if. What if Thursday’s gap down proxy had not triggered, adjusting WedEX to bearish. Would its original bullish signal have been productive Friday? It’s a fair question, since the afternoon’s 2568.75 bias-up signal triggered, and the close surged to touch its 2573.50 target.

But that surge was last-minute. The bias environment’s 2571.00 entry was being probed down to 2570.00 within 3 minutes of the cash session close, when it mattered. And that would not have qualified as a bullish WedEX. So, we’ll still expect any early downtrending Monday morning to persist through the morning.

Meanwhile, fulfilling 2573.50 left no calculable “unfinished business above.” Wednesday morning’s outstanding bias-up target was fulfilled 10 points lower overnight. Thursday night’s “new Globex trend extreme” was a structural attraction that was neutralized Friday afternoon.

Now a new trend high close on a Friday has created another type of structural unfinished business above. It’s not a retest, but another new trend high close that is all but required — even if Monday were to begin a multi-session pullback. There’s more, and we’ll cover it during Saturday Review…

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

This weekend’s Saturday Review starts at 9:30am ET. I’ll send the link in the morning.