Monday morning”s bounce left unfinished

Monday morning”s bounce left unfinished business above at 2072.25, attacked to within 2 ticks. The reaction down left no unfinished business above, holding a test and retest of the 2051.25 bias-down target, without even triggering bias-down. The final hour”s entry was so near the bias environment”s low that it easily could have gained traction, but bounced instead.

I noted other unexploited setups previously on the blog and during the post-market Wrap. Each has the same meaning, that sellers weren”t strong-handed.

That doesn”t prevent another dip. Closing at or above 2061.50 at least suggests a dip would be recovered instead of extending down. Closing above 2066-2067 would have been optimal , and extending higher after the close to 2067.25 still doesn”t prevent an temporary dip. But a dip should be just that, temporary. If a decline does get underway, then testing 2040.25 can be pivotal going forward.

More detail is in the post-market Wrap recording, here:
https://roddavid10.mitel-nhwc.com/join/yptxvsy

[Check this post”s comments section after 6pm ET for the overnight chaRTroom links]