Post-market Wrap (recording & summary)

Only one piece of “unfinished business below” is outstanding at Wednesday’s 1243.00 low. Thursday’s oversold RSIs at 1255.00 is retested. In fact, that’s where Friday closed. And there has yet to be any consequence to Thursday’s failed rally originating after buyers had failed to gain traction Wednesday afternoon.

The bullish WedEX was influential in two ways Friday, if it was influential at all. Neither way was overt. Its first influence is inferred from the morning-long relentless decline ending suddenly almost exactly when the afternoon bias environment began. Secondly, the close ended by bouncing to a fresh afternoon high. This suggests a specific behavior on Monday morning.

Friday afternoon’s bullish WedEX influence might have been more obvious if not for the president’s simultaneous press conference. Previous similar coincidences have also inhibited trending. But that doesn’t change the setup’s likely behavior Monday morning.

We’ll discuss these inputs and likely resolutions for setups Sunday night and Monday morning, at this weekend’s Saturday Review. Look for a reminder and login link overnight.

Meanwhile, the post-market Wrap recording is here.