Pre-close View… Back to business?

Afternoon bounce has corrected the morning drop.

The decline’s next lowe4r objective was to retest the October 2014 “V” bottom at 1815.00.

1815.00 was tested soon afternoon. Then it was probed down to 1804.25. And then 1815.00 was recovered coming out of the noon hour, recovering both the 1807.00 bias-down target AND the 1813.25 bias-down signal.

The no-bias environment allowed room up to the 1828.00 bias-up signal. No-bias trending probed it up to 1840.00. Now the 1828.00 bias-up signal has been retraced to within 3 ticks.

Was all of that done just to refresh sellers? Recall that the three-week long decline has yet to produce a capitulative  session. Today’s gap and the morning’s extension down don’t qualify without also trending down this afternoon.

Back above 1842.00 could marginalize sellers for the balance of the day. Otherwise, another downleg could get underway to new lows — resuming the decline next targeting 1780.00 (+/- 3 points) and 1750.00.