Pre-close view… Blip, dip, and flip?

Overnight recovery didn”t stick, and no other is being tried.

Recovering most of the open”s plunge this morning left a choppy, sideways range. The noon hour”s dip to 2046.50 reacted up to 2054.50 resistance. Retesting 2064.50 a couple of times this afternoon has just reacted up to 2052.00.

It”s all just ranging around 2054.50. That”s last Friday”s “lower prior high.” At least, it was lower yesterday, and it was the next objective under yesterday”s range. Now it”s resistance, and either way it is influential.

Breaking under 2046.50 earlier would have targeted fresh lows at 2039.00 or lower. The delay”s pent-up buying pressure just surged to 2052.00. That was probably just to stretch the rubber band, which is now snapping back down to attack 2048.00.

Closing under 2046.50 would make a hold-short compelling. Otherwise, it”s all just noise.