Market Wrap (recording & summary)

All eyes have been Dow 20k, which was attacked Friday to within 1 point. Perhaps it will be probed decisively when actually touched, to compensate for the delay. For our own purposes, the very long awaited retest of the 2273.00 prior high was finally fulfilled Friday. Its 2275.50 which was probed up to 2277.00.

That was during the noon hour. The entire afternoon fluctuated choppily around 2275.50, back down to 2273.00. Drifting another couple of points lower into the close avoided closing above 2275.50 which would have put into play the next higher objective (there’s room for noise up to 2278.25). The 2273.00 prior high held, too. But the new trend high close on Friday requires at least an eventual higher close before a durable decline would be credible.

This weekend’s Saturday Review will discuss those factors, and others regarding topping and other resolutions. Then we’ll do instant chart analyses of any stocks requested. A reminder and link will be sent overnight.

Meanwhile, details and other markets coverage are discussed in the market Wrap recording here.