Market Wrap (recording & summary)

Thursday afternoon’s 2695.50 bias-up signal held its test from 1:20-1:30 to not trigger. But 2688.00-2692.50 was recovered. It could still have been rejected, being only a singular probe above 2688.00-2692.50 and having held bias-up (i.e. relevant resistance through a relevant timing window).

Rejected optimally, by exiting the bias environment back under 2692.50. That was the bias environment exit did test, but it held. Breaking back under the 2691.25 last relative low during another relevant window would still be credible. That was the 3:10-3:20 proxy window. Being a delayed break, it was allowed only one bite at the apple.

The late break eventually pierced 2 ticks under the lower-end of 2688.00-2692.50, telling us several things. Trending isn’t attracting strong-handed reinforcements, but opinions remain widely disparate, and attractions above aren’t overwhelming attractions below.

Gapping up Friday above 2692.50 could reject Thursday’s late slide, and next target new highs at 2699.75-2700.75 and 2703.00. Extending the break under the 2688.00-2692.50 buffer would probe fresh lows under 2679.00 down to 2675.50. Not already trending during the first hour could range only narrowly through the close.

• Details and other markets coverage are discussed in the post-market Wrap recording here.
• Monitor overnight Globex trading in the chaRTroom here.