Market Wrap (recording & summary)
Thursday’s closing surge extended through the close and into the Globex open up to 2737.50. Fluctuating narrowly down to 2733.50 became the midpoint of widening swings into Friday’s open, 
up to 2746.75 down to 2722.25. And then out of the open up to 2754.75 down to 2726.00. Even Friday afternoon’s narrowing range still centered around 2737.50.
In fact, that’s where Friday afternoon’s bias environment was entered. Despite probing lower in the interim, that’s also where the session closed… sort of. That was the print 3 minutes before the cash session close, which matters most, but doesn’t account for a momentary 6 point dip under it at the close.
The point being that Friday afternoon’s bias environment didn’t trend down, and it absorbed dips. This behavior barely qualifies as remaining vulnerable to rallying sharply at the next regular open. Whether or not that next open is flat or gapping — up, or down — is unknown. But initial strength would get a benefit of the doubt for extending through the morning.
Meanwhile, the 2753.00-2757.00 objective was probed. Not entirely, but that’s not necessarily to consider it met, and not requiring retest. No higher objective is in-play without closing above 2757.00.
- Details and other markets coverage are discussed in the post-market Wrap recording here.
- NO Saturday Review this holiday weekend.