Pre-close View… The big one.

Corrective bounce ended, decline ready to resume.

The template we discussed before the open has not been invalidated. The open’s slide and the late-morning’s plunge each corrective. One more in terms of price than in duration. The other shallower but lasting longer.

The noon hour’s test of 2160.00 had reacted up 6 points, and now 2160.00 is being retested. There’s no bullish reason for that this late in the session in this pattern. A break lower should be imminent.

Whether met today or tomorrow, the next downleg’s objective is to probe under Thursday’s 2153.50 low. A bigger decline is probably underway, originating with the sentiment extreme that was indicated by the open’s price action. Recovering this afternoon’s 2166.00 highs would suggest otherwise.