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Pre-close View… Big close. – If, Then… Market Timing

Pre-close View… Big close.

Hovering above all prior highs.

This morning’s upside momentum was only barely violated by 2-3 ticks. This afternoon’s bias-up was not invalidated. Its 2199.50 bias-up target has become “unfinished business above.”

While the open was unlikely to sit still, whether that meant reversing down or extending higher, that’s no longer the case today. The balance of the session may continue hovering at or above the 2192.00 resistance.

2192.00 had been the room for noise above 2185.00-2186.00. It has been probed only once, with only a little complexity. Closing under 2192.00 would not be enough to indicate it held — the close must also finish under 2185.00-2186.00.

Otherwise, the rally will have entrenched itself. And pullback, or not, the next higher objective at 2220.00 would be in-play.