Pre-close view

Room for noise under this morning”s 2081.75 bias-down target down to 2077.75 was tested, retested, and re-retested. Twice. That effort defined the noon hour, and the noon hour defined it, as the noon hour”s exit rallied 7 points to 2084.00.

2084.00 has defined the afternoon since then. Dips back into the noon hour”s range have repeatedly recovered from 2079.50, and reversed back down.

The bias environment was exited above the noon hour”s high, so entering the final hour even higher would have meant buyers were gaining traction. That didn”t happen. The 3:10-3:20 window can serve by proxy, but that”s lapsing and 2084.00 resistance is still holding.

With buyers having failed an attempt at breaking higher, there is vulnerability to probing fresh session lows down to 2074.75. Vulnerability, not a requirement, as still ranging within the bias environment”s range makes the balance of the session less likely to trend.

One last opportunity to suggest the consolidation of yesterday”s surge is ending would be to close above this morning”s 2089.50 high. Meanwhile,