Market Wrap (recording & summary)

Thursday afternoon wasn’t really paralyzed by anxiousness ahead of Friday’s Employment Situation report. But its trending attempts got nowhere. The noon hour exit rallied through the morning’s 2354.00 high up to 2361.25. That was reversed down under 2350.00, where the balance of the session consolidated back up to 2354.00.

A wide range, but no net. The afternoon’s 2364.50 bias-up target became “unfinished business above.” It might stay that way for awhile. There was no bullish reason for Thursday afternoon’s probe of fresh highs to be retraced back under 2350.50.

The door is open to retesting Thursday morning’s low down to 2344.75 or lower. Lower could be difficult to recover, but easier to roll over the ledge to much lower targets. Recovering above 2357.50 and extending higher without delay would avoid that ledge.

Rallying sufficiently at Friday’s open

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

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