Post-market Wrap (recording & summary)

You know that relatively small trading range since Wednesday that I’ve been referencing? Friday afternoon’s action took place in a relatively smaller range — 5 points — and it was as impressive as any other window.

After probing fresh session lows, the bias environment was exited back above its entry. That is meaningful on any day, much more so on any Friday. On expiration, it fulfills the bullish WedEX signal’s afternoon influence.

And that has implications for WedEX’s influence on Monday morning. Pretty interesting, considering that OPEC is meeting this weekend, and S&Ps and Crude Oil have often trended in unison. But don’t leap to conclusions too quickly, since the bullish WedEX only influences post-open action. Gapping down sharply is still possible, so OPEC members might not reduce output.

We’ll discuss that and more at this weekend’s Saturday Review, stating at 9:30am ET. Look for its link in your overnight email.

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