Thursday”s gap up trended up

Thursday”s gap up trended up into the close, touching fresh highs at 2118.50. The rally barely avoided gaining traction for its effort — avoided it by just enough not to rely on trending up Friday morning, and to take seriously a gap down under the afternoon”s 2113 low.

Gapping down under 2113 would also form a session-long decline. And being expiration, trending down through the entire opening 15 minutes of volatility would foreshadow trending down throughout the day. Either or both of these conditions would undermine the bullish WedEX that expects an upward bias Friday afternoon.

So, initially attempting to form either bearish setup would be expected to fail. Similarly, forming either bearish setup would invert the bullish WedEX. And remember the bigger picture pattern targeting new highs? Don”t get me started…

Actually, we discussed all of that in detail during the post-market Wrap, along with other markets coverage, recorded here:
https://roddavid10.mitel-nhwc.com/join/shwpzxy

Overnight chaRTroom links are below:
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