Pre-close View… Carried up, up and away.

FOMC fallout resolves in reversal to fresh highs.

The afternoon bias environment contained the FOMC Minutes. The 2053.50 bias-up signal had been tested and retested by 1 point, at both 1:20 and 1:30, triggering noN-bias. Dipping into the news and out of it touched yesterday afternoon’s 2046.00 high as the bias environment began lapsing.

Touching yesterday afternoon’s 2046.00 high produced a bounce to 2057.00-2058.00.

Earlier today in the chaRTroom, I had described the significance of 2057.00 for being a singular representation of resistance.

2057.00 is the 61.8% retracement of the structure at Monday’s late consolidation. The structure contains higher prior lows. The structure’s prior low is 2057.00. And 2057.00 is the 61.8% retracement back to Sunday night’s highs.

While testing resistance above, there remains an attraction below at 2044.50. Being only obligatory support, bouncing from 2046.00 is only an obligatory bounce. It is likely to resolve down. Extending back above Monday’s highs first would set-up a more comprehensive top than we’ve been contemplating.