Pre-close View… Also, early Market Wrap time.
Pullback complete, but rally not yet resumed.
MARKET WRAP BEGINS A HALF-HOUR EARLY AT 3:33 ET IN THE CHARTROOM.
Having tested and held the 2264.75 pullback limit, bouncing more than 2 points would trigger an inflection up, and likely resume the rally. But bouncing 2 points has been exceeded only by 1 tick, only a couple of times. And now the bias environment has lapsed into the final hour.
Back under 2264.75 at this stage would start to signal another downleg underway. The afternoon’s 2263.50 bias-down signal would no longer need to define the range’s lower-end. But the likelier scenario remains resuming the rally.
REPEAT: MARKET WRAP BEGINS A HALF-HOUR EARLY AT 3:33 ET
