Post-market Wrap (recording & summary)

PLEASE REPORT BACK TO ME IF YOU NOTICE ANY AUDIO/VIDEO ABNORMALITIES ON THE WRAP VIDEO.

Anxiousness often paralyzes the market on the afternoon prior to a monthly Employment Situation report. Thursday was no different, despite triggering the bias-up signal. Its bias-up target was tested twice before falling 15-16 points back down to the open. No sponsorship gained traction.

That included the decline back under the bias-up signal during a bias-up environment. Typically this is weak-handed sponsorship, since no traction will be gained for the effort. In fact, it was retraced entirely. That’s potentially bullish from a contrarian perspective, especially ahead of  weighty event like Friday’s pre-open report.

But the late-afternoon recovery only neutralized its attraction above. No prior high was recovered to reverse momentum up. Not recovering a break lower would likely extend back to Wednesday’s lows — and being a Friday, potentially much lower.

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

When the intraday room lapses, monitor overnight Globex trading in the chaRTroom here.