Post-market Wrap (recording & summary)

All of Thursday morning’s rally from its 1945.00 low up to 1969.00 was retraced before entering the afternoon bias environment. The 1931.00 overnight lows were retraced entirely, too. But that last bit came after the 3:10-3:20 timing window.

Sellers are still hesitant. Still reluctant. Optimism isn’t necessarily alive AND well, but it’s alive. And that’s still bearish from a contrarian perspective.

Greeting Friday’s pre-open Employment Situation report even more optimistically can’t be discounted. An initially favorable knee-jerk reaction can’t be discounted. But there’s about 15 points of room for noise above Thursday’s close to 1948.00-1951.00 without even beginning to reverse the trend up.

And there’s a whole weekend of illiquidity just several hours following the news.

The next lower likely support is at 1907.00-1912.00. But the market still isn’t tracking any recovery template, and this is all in the context of presumably duplicating and magnifying August’s plunge.

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

Monitor overnight Globex trading in the chaRTroom here.