Market Wrap (recording & summary)

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Friday afternoon’s 9-tick probe above its 2380.00 bias-up signal was required to retest 2380.00 as support, if not also 2379.00. Both were fulfilled going into the final hour.

But the bullish WedEX did not reassert itself. The reaction down extended, back to the morning’s 2375.25 bias-down signal. And through it momentarily, touching a fresh low under 2373.00.

The bullish WedEX had been fairly influential. Reversing the afternoon’s uptrend didn’t begin until the final hour, so the influence can’t be dismissed entirely. A more aggressive bullish influence Monday morning remains likely.

Nevertheless, no hold-long was considered, since Monday’s open isn’t prohibited from gapping down. WedEX influences post-open action only, so rallying would be more reliable at or after the open, instead of before it.

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

This weekend’s Saturday Review begins at 9:30am ET. I’ll send links early in the morning.