Thursday”s late 4-point bounce to

Thursday”s late 4-point bounce to 2101.25 could have made hold-long compelling. But most of the bounce came after the cash session close, too late not to be noise. The cash session close was within the noon hour”s range, too high not to be noise. Buyers and sellers were in proximity to gain traction, but did not.

Is that foreshadowing Friday”s expiration session? Gapping up above Thursday”s 2104.75 high would get a benefit of the doubt for forming a “session-long rally.” Opening under Thursday”s late 2097 low would target a retest of 2088-2090 support already tested pre-open Thursday. Trending through the opening 15 minutes of volatility would likely trend in that direction through the session.

Doing none of these could instead be range bound through the day.

The passively bearish WedEX applies to Friday afternoon and Monday morning, so it won”t inform the open. Trending up during the morning wouldn”t prevent trending higher in the afternoon, and neither would trending down in the morning.

But we still have high confidence in the trend being up — trends tend not to end near expiration, and Thursday”s recovery proves sponsorship of Wednesday”s decline was weak-handed

Thursday”s post-market Wrap has more details. And picture.
https://roddavid10.mitel-nhwc.com/join/zvssjzz