Old habits are tough to break.

Another intraday drop… to refuel buyers?

Well, this sure looks familiar: early rally, retraced entirely, but holding a test of a prior low. Last week”s ranging made this a daily ritual — sometimes twice a day, and overnight.

Those eventually resolved up into Thursday”s breakout and Friday”s confirmation. Not to mention, this morning”s surge to fresh highs at 2101.25.

But the balance of the session has trended back down. This afternoon”s 2093.25 bias-down signal triggered, and its 2088.00 target has been met to within 3 ticks. 

The bias environment is within view of lapsing at the bottom of the hour. Exiting it back above the noon hour”s 2093.75 low would signal the decline”s momentum had lapsed. Regardless, entering the final hour above 2097.00 would still signal momentum reversing up.

There is no requirement to extend down further, only vulnerability, which could extend down to 2078.00-2080.00 or lower.