Post-market Wrap (recording & summary)

Patterns often are counter-intuitive. Hovering at 2101.00 through Thursday’s bias environment’s exit, instead of trending up, still reflected optimism. Extending up to 2102.25 into the final half-hour reflected pessimism for being only slightly higher.

But the multi-session pattern has recovered from its opening dip back up to its midweek low. And only back up to its opening dip. That’s restrained optimism, which keeps alive potential for reacting favorably to Friday’s pre-open Employment Situation report.

A next-to-last minute dip to 2099.25 reflected more pessimism, “ineffectual pessimism” whose reaction down held above prior lows. That potential pent-up buying pressure was already spent by a last-minute surge up to 2104.00. and that neutralized the outstanding Globex trend extreme’s attraction. None of which prevents a negative resolution or negative knee-jerk reaction to the news. but all of which suggests a bullish resolution from a contrary perspective.

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

Monitor overnight Globex trading in the chaRTroom here.