Post-market Wrap (recording & summary)

WedEX signals tend to be more reserved on Friday afternoons. But, is this a little too reserved?

The bias environment was entered at its 2053.25 high, and then dipped to 2047.50. Its reaction up to 2052.50 was reversed to a lower low at 2045.00. Lower lows and lower highs is what we call a downtrend. Downtrends aren’t commonly associated with “bullish” signals.

Bouncing to 2050.00 into the close did retrace 61.8% back to 2053.25, which is a proxy for it. The pullback held positive territory, above the open, leaving no unfinished business below. It’s not optimal, but it’s also not complete, and a valid recovery must extend higher without delay Monday.

Gapping down would be disqualified. Otherwise, extending higher Monday without delay would keep alive the aggressive half of the bullish WedEX. We’ll discuss that and other influences during this weekend’s Saturday Review.

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