Post-market Wrap (recording & summary)

The week was greeted at 2086.00, and largely fluctuated around 2086.00, until Thursday afternoon’s bias environment began lapsing at 2086.00, and then the bottom dropped out.

Price action trended down only until Friday’s morning’s bias environment began lapsing. The afternoon bias environment’s retest was recovered before lapsing. And the final hour’s entry missed an opportunity to regain control. Strong-handed sponsorship would usually exploit that setup.

So, I’m already suspicious of the decline’s sponsorship being strong-handed. Now add to it that the bias environment’s high was recovered through the close, despite not already recovered into the final hour. The first development tends to prevent the other.

Closing above what had been “lower prior highs” at 2056.00 helps to undermine sellers. As does leaving no “unfinished business below” outstanding. But it was too late for buyers to gain traction, having exited the bias environment and entered the final hour within the noon hour’s range.

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

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