Market Wrap (recording & summary)

Friday’s expiration started out with sponsorship. Perhaps it wasn’t obvious from the range’s measurements, but a specific upside limit was calculable, and its test produced a steep, deep reaction down. That’s the expression of opinion, in action.

Mid-morning choppiness tried to rescue the market from triggering bias-down. The rescue was almost a success, until it botched the operation entirely by plunging too late to trigger the bias. Its target was met to within 3 ticks anyway, so selling pressure was satisfied.

The balance of the session only ranged sideways, choppily. Lower highs and almost lower lows complied in a minimal sense with the bearish WedEX. There certainly was no afternoon rally, bounces failed, and the session ended at afternoon lows. So, a more obvious post-open bearish influence is likely Monday morning, regardless of the opening print.

Details and other markets coverage are discussed in the post-market Wrap recording here.
THERE IS NO SATURDAY REVIEW THIS WEEKEND. CHARTROOM WILL RE-OPEN WITH GLOBEX SUNDAY.