Post-market Wrap (recording & summary)

Friday ended with bounce, sizable by most standards, but somewhat tame compared to the intraday action preceding it. The three-week old gap back down to 2160.00 had been filled down to 2157.50, but no new sponsorship was able to extend that into a new downleg. Its reaction up attacked its 2170.75 target to within 2 ticks.

And where was the close? At 2168.00. Not above to indicate that sellers had lost traction, and not under it to put into play lower objectives. AT 2168.00.

Closing under 2177.00 has indicated the massive topping pattern is probably rolling over. Closing under 2168.00 would have indicated it is extending down. And under 2156.50 would tell us that extension is targeting a test of 2141.50. At a minimum. Gapping up Monday above 2188.00 would give the pattern another opportunity to probe fresh highs first.

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