Post-market Wrap (recording & summary)

Exiting the afternoon bias environment above all prior intraday timing window highs is extremely difficult to reverse down on Fridays. And it often extends even higher. That was the case this week, as bounce targets into the 1860.00‘s began to be met.

That’s a Friday Factor, but so is the lack of credibility for actually extending higher. Weaker volume means weaker hands, so their gaining traction isn’t impressive as it would be on any other weekday. If anything, it suggests that sellers are being extra patient, which is potentially bearish from a contrarian perspective.

An immediate reversal down next week would be credible, but not much and not at all optimal — not like first testing 1867.00. Its recovery would suggest only a higher starting point to the decline’s eventual resumption.

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

Monitor overnight Globex trading in the chaRTroom here.