Pre-close View… Brief pause.
Getting ready to extend the recovery.
Tuesday is a trending session, as timing windows probe other timing windows in the same direction as each other. Exiting the afternoon’s bias environment in the trend’s direction suggests that counter-trend sponsorship is marginalized.
This morning’s late signals had prevented marginalizing sellers. They’re the counter-trend sponsorship. So, this afternoon’s development can be well-rewarded, either by extending the trend higher, or by absorbing a counter-trend dip.
Potentially bearish consequences to extending above 2027.00 that I described previously would still be relevant. Meanwhile, the rubber band can be stretched further to test the 2035.00 area.
A healthier alternative would preserve its buying pressure by dipping next to test 2021.00-2022.50. That doesn’t seem of interest.
