Post-market Wrap (recording & summary)

Friday afternoon’s drop was recovered entirely, and literally — from the noon hour’s 2040.00 exit down to a test of the afternoon’s 2033.50 bias-down signal, and back up again. even the noon hour’s 2041.75 high was touched.

No higher highs were required since the bias environment wasn’t exited above all prior timing windows. Even considering the bullish WedEX, and even considering that the bullish WedEX had been productive. So the balance of the session ranged narrowly around 2040.00 — expiration dipping to 2036.50 is irrelevant for our purpsoses.

The new trend high close fulfills the third higher close that was by confirming Wednesday’s breakout. The new trend high close on a Friday now deserves a similar reward, that at least one more higher close develop before a durable decline could begin. An immediate pullback, possibly, but not a durable reversal down.

Meanwhile, the bullish WedEX’s influence on Monday should be aggressive. Its influence proved out Friday afternoon, so even if Monday’s open were to gap down considerably, the morning should rally. Rallying to fresh highs without gapping up would be vulnerable to reversing down, since buyers didn’t gain traction for their efforts — and since some older “higher prior lows” are being probed that should get to slow the advance.

REMINDER: THERE IS NO SATURDAY REVIEW THIS WEEKEND.
Also, chaRTroom will be available after Sunday night’s Globex open. Not very long after, and you’ll receive the usual Email Alert with its URL.

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