Bubble, bubble… coil and trouble.

Little, choppy ranges, and very little trending.

Today”s only two trending attempts both touched 2039.50. The first one created oversold RSIs that required a retest. So did the second. Both reacted up 7-8 points. And now the second bounce has retraced entirely, too.

I don”t expect this dip to simply touch the prior low. Its retest should also visit 2037.00. And it”s probably too late for a reaction up above a prior high that might trap shorts.

The only chance at signaling that a bottom might be forming would be to test 2037.00 and to close above it. But that wouldn”t be definitive. Closing under 2037.00 would put into play 2026.25.