Pre-close View… And an important announcement.

Today’s market Wrap is a half-hour early at 3:30 ET.

This has been an easy session. We haven’t even considered a sell signal since before the morning’s bias environment was within view of lapsing. And then, it would have been only to catch a temporary shallow dip.

The setup has otherwise been fairly obvious, once Friday afternoon’s last relative low at 2076.00 had maintained its recovery. The rally’s 2088.00 objective was a likely attraction. But that was mostly only a formality on the way to retesting Thursday night’s 2094.75 high.

Which is now being probed by more than 3 points to 2098.25.

The origin of today’s rally wasn’t just its initial recovery of 2076.00. And it wasn’t even the immediate rejection of Friday’s last-minute plunge to 2069.50.

Extending down overnight to the morning’s 2064.50 bias-down target had the effect of fulfilling a lot of selling pressure. Recovering its 2071.00 bias-down signal had the effect of trapping it.

I note this origin because it is important to keep track of its sponsorship. Thursday’s highs aren’t being retested during a consolidation that developed upon its first reaction as stragglers bought in. To the contrary, Thursday’s highs are being retested by new sponsorship.

Today’s rally is not an extension — it is its own entity and it has yet to be corrected. Meanwhile, it is gaining traction by exiting the bias environment above the noon hour’s high and now also entering the final hour even higher. Both 1-minute and 3-minute RSIs are overbought simultaneously.

There is no requirement for a pre-close pullback, only the vulnerability. But gaining traction suggests either extending higher overnight, or else probing higher tomorrow morning.