Market Wrap (recording & summary)

Thursday night’s 35-point surge was triggered after midnight by favorable China trade war news. Friday morning’s Employment Situation report couldn’t have been greeted much more optimistically. Especially not after gaining no traction for rallying into AAPL’s earnings, and then reacting only within the afternoon’s range and no lower. Potential to 2766.50 was attacked to within 1 tick.

The report didn’t trigger much of a reaction. But more important, there was no reaction left to trigger. And the favorable overnight China story was starting to fall apart. So did the market, which invalidated the morning’s bias-up signal, and trended down through the noon hour. Its 2700.00 target was probed by 6 ticks.

The balance of the session chopped higher. First to 2715.00 which was reacting down 11 points on the way to new lows. Next was another spike up to 2728.00 on China trade news. It was still negative territory, and a bias-down, so the balance of the session ranged sideways.

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