Post-market Wrap… Who needs trending.

Friday’s pre-market Tour’s premises held true throughout the day. Unfortunately.

First, pre-open and post-open selling pressure under 1929.00 didn’t extend down or gain traction. And the balance of the session didn’t trend, but did range back to Thursday afternoon’s highs around 1950.00. The ranging was a little more trending-like than seemed possible for the session. Trending or not, that didn’t matter since the range was so wide.

The unfortunate part is that by not trending, Friday’s pattern leaves no required objective outstanding. More so, Friday was an inside day, its range contained entirely within Thursday’s range. That upward bias within an inside day would have been bearish if not for being a Friday. Meanwhile, the bias environment exit and final hour entry both were within the noon hour’s range, so buyers gained no traction from the last-minute surge to fresh session highs.

We’ll discuss the bigger picture consequences and challenges during this weekend’s Saturday Review. I’ll send login info in the morning. Meanwhile, Friday’s details and other markets coverage were recorded here.