Buyers didn”t gain traction for

Buyers didn”t gain traction for their efforts Wednesday. So, what else is new.

Although you would think they deserved it, recovering from an 18-point pre-open plunge, rallying more than 23 points from the overnight low. But that just means Wednesday”s buyers were rewarded. Gaining traction required exiting the bias environment above the noon hour”s high (check), and one of the next two timing windows (nope).

The 2103.75 high did pierce Tuesday”s opening high, but both highs stopped pessimistically short of touching prior highs. This “ineffectual pessimism” is potentially bullish from a contrarian perspective. That hasn”t prevented deep interim dips before. Meanwhile, the optimism of Wednesday afternoon”s “no-bias trending” may need further correcting.

But the ongoing premise is that dips will continue recovering. And that the dips will eventually end — sooner, rather than later… presumably. That eventual session, potentially Thursday (or yesterday, or the day before that), could be very impressive to the upside. More details and pictures with voice over and a very quiet theme song are found in the post-close Wrap recording:
https://roddavid10.mitel-nhwc.com/join/hthpvmp