Post-market Wrap (recording & summary)

The 2168.00 “new Globex trend extreme” wasn’t retested Thursday. Its retest is required at some point intraday. Meanwhile, there is also “unfinished business below” at Thursday afternoon’s 2150.50 bias-down target. Whichever is tested first should be reversed to test the other. Either could be probed by 7 points before reversing.

Thursday’s bounces still maximized their “ineffectual optimism” before reversing. But those reversals were too shallow to be considered excessive pessimism, which would have been bullish from a contrarian perspective.

It’s not yet enough of a disparity to prevent the WedEX’s bullish bias into and out of expiration. Dipping Friday morning back into the Tuesday-Wednesday range down to 2048.00 or 2043.00 could clean out near-term pressures. But only gapping up Friday morning and extending higher would be credible for extending into a blow-off rally leg.

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

Monitor overnight Globex trading in the chaRTroom here.