Market Wrap (recording & summary)

Friday afternoon’s bearish WedEX influence prevented triggering bias-up, despite testing the 2778.00 bias-up signal. Its reward was limited to a 4-point dip that was already recovered when the bias environment lapsing had come within view. The no-bias restraint could ignore the bias-up signal’s resistance, which it did, surging to 2787.50.

That’s 22 points off the morning’s 2765.50 low. There was one chance for last Friday’s 2767.00 prior low to hold its test, and it made the most of it. Oversold RSIs there require an eventual retest, which would likely extend down to 2756.00.

Meanwhile, the gap back up to Thursday’s 2788.00-2788.75 close wasn’t filled but the structure containing it held its test. Friday’s close held above Wednesday’s lows and the optimal 2783.00-2784.00 area, keeping alive Thursday’s Isolation setup targeting 2796.00.

The bearish WedEX didn’t trigger decisively Wednesday and wasn’t rejected decisively Thursday. So, I hesitate to infer anything from its limited influence. But I would anticipate relentless trending through Monday morning in the opening 15 minutes’ direction, until disproved.

Details and other markets coverage are discussed in the post-market Wrap recording here.
SATURDAY REVIEW LINKS WILL BE EMAILED BEFORE ITS 9:30 AM ET START.