Pre-close View… Back to the counting room.
Afternoon pullback could be done.
Rallying above yesterday’s highs before late-afternoon today was unlikely without gapping up. Rallying without gapping up is likely to reverse down. As of late-afternoon, rallying 13 points above yesterday’s 2130.00 high has been retraced entirely, to 2130.00.
The impatience should also have a punitive consequence that retraces back into negative territory. Back under 2131.75 would target 2127.75. It was this afternoon’s bias-down signal, but doesn’t require being tested. Its break would target 2121.25 and potentially 2113.50.
Back above 2136.25 could avoid any punitive damage, and would start to signal a retest of the 2143.25 high probably up to 2145.75.
