Post-market Wrap (recording & summary)

Being within the orbit of Wednesday night’s 1987.00 highs made their retest likely, despite not being required. Testing the upside attraction right at the bias environment’s exit could have gone either way. Resistance could have repelled the recovery, but instead resistance accelerated the recovery higher.

Potential to 1993.00 was attacked to within 5 ticks. That is the best singular representation of a cluster of targets in this area. There being potential for a knee-jerk reaction to the morning’s news, we should be aware of outliers at 1997.25 and 2001.00.

The recovery high close doesn’t prevent reacting down at Friday’s Employment Situation report, no more than the rally’s momentum assures reacting up. But reacting down would likely be only temporary, at least until retesting Thursday’s close from below. And since Thursday’s rally gained no traction for its effort, extending durably higher requires gapping up.

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

Monitor overnight Globex trading in the chaRTroom here.