Market Wrap (recording & summary)

Friday morning’s rally missed the opportunity to complete a retest of Wednesday’s 2907.50 low. The overnight attack on it to within 2 ticks also missed the opportunity. None of which is predictive, not without the actual attempt to break lower. Its failure creates a consequence… and that’s what the methodology is all about.

So, this morning’s consequence was an offsetting test of the 2924.50 bias-up signal, for having held a test of the 2916.25 bias-down signal. Done. Its morning test marked the session high. And being a Friday, the balance of the session only ranged choppily sideways as was most likely.

Meanwhile, the close (barely) recovered 2919.00. That’s a different pattern, but the consequence should be to retest the prior Friday’s highs. And there would have been consequences to not recovering it, and/or to closing under 2914.00.

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