Pre-close View… Bias-on.
REMINDER: MARKET WRAP BEGINS AT 3:33pm ET.
This morning’s no-bias had triggered after testing the 2339.75 bias-down signal.
And not by a little. Despite bouncing up to 2343.25, the open’s 2337.25 low was attacked to within 2 points.
But the mid-morning dip to 2337.75 held, as was likely, being a no-bias environment.
Price action since exiting the morning’s bias environment has trended higher. Of 7 points since the low, 3 points have printed into the afternoon bias environment began lapsing.
Fresh session highs are now attacking yesterday’s ~2346.00 close. Unchanged is natural resistance, but that’s no excuse for not closing positive. Similarly, the bullish WedEX influence is no protection against a last-minute reaction down.
There will be no hold-long (or hold-short). “Unfinished business above” remains outstanding at this morning’s 2348.25 bias-up signal.
