Was Friday a “session-long rally?”

Was Friday a “session-long rally?” This comparison could be important, because the setup tends to extend the next morning. Friday”s open gapped above the prior afternoon”s high, and each timing window but one probed above its prior window”s high. The only distinction, which isn”t minor, was that Thursday”s close had not trended down.

Friday”s rally did not expend all available effort. It was strong, but it could have been stronger, having potential to 2109.50-2111.00. It ended at its high while retesting its 2101.50 target, but the last 90 minutes did not actually trend up. The bias environment”s exit was bullish, but no other window gained traction.

Between the setup”s potential resolution and the muted optimism — combined with the week”s substantial decline — not exploiting these factors to extend higher Monday could mean that the downleg had only just begun.Otherwise, potential to new highs remains intact.

We”ll discuss the bigger picture and game out strategy for the Globex open and next week, all at this weekend”s Saturday Review. I”ll send it link (for XP users, too) in the morning. Meanwhile, here”s Friday”s post-close Wrap recording:
https://roddavid10.mitel-nhwc.com/join/fbfkhcb