Pre-close View… Drip, drip, drop. (Plus special note)

MARKET WRAP WILL BEGIN EARLY AT 3:50 ET, AND EXPANDED TO INCLUDE BIGGER PICTURE.

This morning’s 2100.75 high reacted down aggressively, soon after persistently overbought 3-minute RSI had finally left overbought territory.

Reacting down through both the noon hour and the afternoon bias environment is testing 2091.00. And meanwhile 3-minute RSI has repeatedly attacked oversold territory without probing it.

The near-term potential below is at 2088.00, if not also 2086.00. If the slide were to become frenzied, then it could extend next down to 2076.00 or even to 2071.00.

The bias environment was exited at the noon hour’s 2093.00 low but not still under it. The final hour’s entry is threatening the bias environment’s 2091.75 low. Still not probing fresh afternoon lows through the 3:10-3:20 timing window could avoid any further dip today.

Framing this week with aggressive slides both into and out of it would be more poetic than predictive. Regardless, don’t underestimate the velocity of a late leg in either direction.

REMINDER: There is no Saturday Review tomorrow, so today’s Market Wrap will be expanded to cover the bigger picture… and it will begin early at 3:50 ET before the close.