Market Wrap (recording & summary)

Tuesday night’s action had warned volatility would be expanding sharply. Which it did, all the way through Thursday’s close. Thursday’s close warned that lower lows were underway, which Friday’s gap up all but rejected. But didn’t exploit, as volatility left early for the weekend.

Thursday night’s relentless rally didn’t extend Friday, but its rejection was limited to just that, not extending. It wasn’t retraced, and only hovered near Thursday’s upper-end. That makes Friday an Inside Day, not very meaningful — but what else is new for a Friday.

The close recovered 2756.00, but not 2767.00, which changes nothing about buyers still not regaining control. However, it does require sellers to prove without much delay that they’re still in control. So, not already trending down after Monday morning would start to make a retest of recent highs likelier.

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