Does it feel like the

Does it feel like the drop into Tuesday afternoon”s low was hanging by a thread? That”s because it was. The timing wasn”t entirely inappropriate for ending the decline, but its 2096 low isn”t a calculably attractive spot for it.

Beginning the final hour”s rally aggressively would have been credible. But that was mostly reserved for the close — which is typically the weakest of hands, and not at all the strongest.

So, it”s more like sellers ere refueled, and less like buyers gained any traction.

Having said that, gapping up Wednesday and/or extending through Tuesday morning”s 2107-2108 bias environment high could reverse the trend back up. Regardless of how substantial it was, Tuesday”s drop was only one day and yet to be confirmed. Holding a retest of Tuesday”s 2096 low by 2-3 points could launch a recovery, too.

Otherwise, exiting the morning”s open at fresh lows, or at least not exiting the bias environment in rally mode, would suggest the bigger bearish pattern is unfolding… quickly.

Here”s the post-market Wrap recording for more detail (new chaRTroom links will be sent this evening):
https://roddavid10.mitel-nhwc.com/join/mjvhbfc