Turnabout is fair-play. Thursday afternoon”s

Turnabout is fair-play. Thursday afternoon”s “no-bias trending” required retracing back down to its bias-up signal. Friday afternoon”s no-bias trending required a retracement, too. And that was after probing 7 points under it. That attraction above facilitated a 12-point rally before the close.

That”s a big gain from the low. But does it marginalize sellers, or refuel them? Closing back above the afternoon”s 2071.75 bias-down signal robs sellers of their traction, but closing back above the bias environment”s 2077.50 high would have given buyers traction. The pattern otherwise remains vulnerable to extending down Monday.

Having said that, firming immediately at Monday”s open would be credible for extending the recovery. And if the bullish WedEX is influential, then the morning should rally aggressively. But the burden of proof is currently on buyers, and delaying a recovery Monday could find a greater attraction below to 2050.

Here”s a little more detail in the post-market Wrap:
https://roddavid10.mitel-nhwc.com/join/pcxxhkv

And a reminder for this weekend”s Saturday Review at 9:30am ET. Its link will be available in the morning.