Post-market Wrap (recording & summary)

Thursday afternoon’s recovery ended at the morning’s 1915.00 bias-up target. The rally greeting Thursday’s open — as with the rally that greeted Wednesday’s open — was corrected intraday and then recovered into the close.  The patterns differ in several key ways, like developing exclusively in positive territory or not. But they can’t be confused with greeting Friday’s payrolls report pessimistically.

The question is whether the Employment Situation report is being greeted from a position of strength, or overly-optimistic. How about, a happy medium, almost equilibrium. The market wants to react favorably to the news, but will have difficulty maintaining that bullishness much past Friday’s open.

Upside potential includes retesting Wednesday night’s 1929.50 high, 1942.00 and 1960.00. None of which is an actual attraction. Downside attractions begin at Thursday afternoon’s 1897.00 bias-down signal. Probing above it during a bias-down environment requires its eventual retest. A small reach, but opening it could reveal a bigger hole below.

Details and other markets coverage are discussed in the post-market Wrap recording here:
https://roddavid10.mitel-nhwc.com/join/kfyftfc

This evening, monitor overnight Globex trading in the chaRTroom at:
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