Market Wrap (recording & summary)

Friday’s reaction to the Employment Situation report had knee-jerked down, then knee-jerked up between 2730-2735. But the open was greeted where the Employment Situation report was greeted. It was still a gap up, but touching the 2733.00 bias-up target reacted back down under Thursday’s “lower prior highs” to 2726.50. That also tested the 2727.75 bias-up signal as support to form the session low.

The balance of the morning recovered to touch the pre-open high. And when the afternoon’s no-bias environment began lapsing, the balance of the session trended up to a new high at 2743.25. It is a new trend extreme close on a Friday, which requires at least another eventual higher close, regardless of any interim price action.

We’ll discuss that feature and others at this weekend’s Saturday Review, which begins at 9:30am ET. Login instructions will be sent in the morning.

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