Post-market Wrap (recording & summary)

Friday morning’s post-open bounce fulfilled its intention of lulling market participants into complacency before a capitulative afternoon drop. But a capitulation isn’t very capitulative if it’s not maintained. The last half-hour’s recovery back into the noon hour’s range all but erased that capitulation’s effects

That said, the late bounce was probably only a temporary corrective bounce. Its 2088.25 peak was calculated from a correction of the afternoon’s 10-point drop to 2079.50. Holding it to the tick — twice, recovering it after a 3-point interim dip — is the best confirmation available until the next open.

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

Join us at 9:30am ET for the Saturday Review when we look at the bigger picture and your stock chart requests in the chaRTroom here.