Pre-close View
Pre-close View… Detour detoured.
Corrective bounce cut short.
The no-bias environment was not biased. The noon hour had touched this afternoon’s 1996.50 bias-up signal but didn’t trigger it at 1:20. The no-bias environment tested the 1986.00 bias-down signal but didn’t probe it.
But now the bias environment has lapsed. Exiting the bias environment above prior highs could at least have produced a corrective bounce. Instead, The bias-down signal is being probed.
The attraction to this morning’s oversold RSIs at 1981is in-play. Already neutralizing its attraction and recovering from fresh afternoon lows would have enabled an even bigger corrective bounce. But now it risks resuming the decline.
The lowest buy signal will be 1990.50. Nothing short of it today would be credible for reversing momentum up. Meanwhile, regardless of the path there, fresh lows remain likely.
Pre-close View… Traction.
Selling pressure confirmed.
Trending down through the noon hour had triggered bias-down, stopping 1 point short of the 2035.00 bias-down target. Bouncing during the bias environment attacked 2045.00. 
The bias environment was exited at or under the noon hour’s low.
Traction? Maybe.
The final hour was entered at or under the bias environment’s low. That’s traction. Trending down to fresh afternoon lows through the 3:10-3:20 timing window would confirm.
And the 3:10-3:20 timing window just trended down to 2022.25. That required absorbing a last-minute corrective bounce to 2038.25, so sellers seem intent on retaining control.
Probing under the 1999.00 overnight low would target 1993.50 (typo’d earlier as 2093.50), whether today or tomorrow. Meeting it today would greet the weekend vulnerable to gapping down sharply Monday. Leaving the attraction outstanding would help to resume the decline after the weekend.
Pre-close View… Back to it?
No-bias has lapsed, attacking session highs.
Reacting down from the 2099.50 target touched 2094.50, natural support of today’s opening print. Choppy ranging ahead of Brexit results can start resolving. In fact, firming into the no-bias environment’s exit has extended up to 2099.25.
That said, entering the final hour above this morning’s highs would have been bullish. Otherwise, being able to resolve doesn’t require resolving.
Resuming the rally isn’t required — not today, not ever.
But trending to fresh session highs through the 3:10-3:20 timing window could extend up to 2106.00 and higher before the close. Back under 2096.00 would more likely dip back into the open’s range.
Pre-close View… Warning shot.
Bias environment’s rally trying to textend.
An offsetting test of this morning’s 2070.75 bias-down signal was put into play by holding a test of the 2080.50 bias-up signal. This morning’s 2074.00 low didn’t satisfy it, so the objective becomes “unfinished business below” and requiring an eventual retest.
Meanwhile, this afternoon’s no-bias environment bounced from its early 2076.25 low up to 2082.75. And then surged to within 1 tick of the 2086.00 overnight high. The test of 2070.75 is going to be delayed.
Stopping pessimistically short of the overnight 2086.00 high is potentially bullish from a contrarian perspective. It suggests that any reaction down is counter-trend, and will be recovered by higher highs. The bigger picture already suggests that probing the overnight high is likely also to probe yesterday’s 2092.50 high.
The reaction down had room to retrace the bias environment range back down to 2080.00 as just a correction. Touching it has reacted up to 2084.00.
Regardless of the potential upside, back under 2081.00 would start to signal the unfinished business below at 2070.75 is back in-play.
Pre-close View… Down for the count.
Still hovering at session lows.
The bias environment’s 2081.00 exit was under the 2083.50 noon hour lows. But the final hour entry had bounced back into the bias environment’s range. Sellers could still gain traction by trending down to a fresh afternoon low through the 3:10-3:20 window.
That would make the decline likely to extend into and through tomorrow morning. Trending down tomorrow morning would otherwise require gapping under today’s lows.Similarly, trending up would require gapping up above today’s highs.
Paralysis or backing-and-filling remains likeliest ahead of tomorrow morning’s Yellen testimony.