Pre-close View… An unusual reversal of fortune.

Early rally becomes bigger slide.

This morning’s rally from 1998.00 up to 2014.75 was sliding already into the noon hour. But that had potential for being only a temporary correction.

It wasn’t.

The second half of the noon hour slid more steeply. That had potential for being an exhaustive low.

It wasn’t.

No relevant resistance has been recovered, let alone probed. In fact, the drop has been a singular downtrend of lower lows and lower highs. The downtrending persisted while the bias environment lapsed into the final hour, which tends to entrench the trend.

It has.

The next lower attraction is 1993.50, which would have sufficed as a low if tested this morning, but whose test now would likely break lower to 1988.00. Back above 2004.00 at any time would start to signal the drop had ended anyway.