Pre-close view… Another leg kicking free?
Upside target met, not yet rejected.
Recall that this morning”s open created potential up to 2100.00. Testing it during this afternoon”s no-bias environment would have required rejecting it, and probably by reversing the trend down steeply.
Tts test was delayed until the bias environment came within view of lapsing. A surge to 2100.75 was retraced back down under 2098.00 where the surge had originated But the retracement hasn”t extended down into a reversal.
Anyway, a reversal has room down to the 2096.00 area before signaling a more substantial drop targeting 2091.00 and 2088.00.
The bias environment was exited above the noon hour”s high, but the final hour isn”t being entered any higher. Back above 2099.50 would at least target fresh session highs, where overbought RSIs require a retest. Trending up to fresh highs through the 3:10-3:20 timing window would still confirm buyers are gaining traction to extend the rally.
