Not taking “yes” for an answer.
Positive territory”s attraction becomes resistance.
Probing above the 2062.50 10:15 high extended without little hesitation to 2070.50. But the balance of the bias environment dipped back down to 2061.00. The noon hour has ranged sideways up to 2065.00.
Thursday and Friday”s closes are essentially 2066.00-2067.00. Exiting the bias environment under them indicated that the morning”s buyers didn”t gain traction for their effort.
That doesn”t prevent retesting the morning”s high. Overbought RSIs there require it eventually. And this morning”s 2072.25 objective remains outstanding.
But beginning the next upleg from under 2066.00-2067.00 would make a fresh high vulnerable to reversing back down. A reversal down could be avoided by triggering this afternoon”s 2067.00 bias-up signal, or by delaying a break higher until the bias environment begins lapsing at 2:30.
Regardless of any unfinished business above, nothing prevents extending the dip without any fresh high.
