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Pre-close View… Champing at the bit. – If, Then… Market Timing

Pre-close View… Champing at the bit.

Chipping away at the afternoon highs.

The final hour of the day is essentially positioning for the next session. At least, the current day’s influences will have run their course. There’s no requirement to trend higher, but the only attractions are above, so this session is free to start trending up.

2007.50 resistance has been tested and retested and double secret retested all afternoon. The bias environment exit and final hour’s entry didn’t gain traction, but there is no sell signal. So, suddenly piercing fresh afternoon highs above 2007.50 gets a benefit of the doubt for being able to trend into the close.

Looking forward, assuming the balance of the session does trend, launching from a narrow range would make fresh highs likely to reverse back down. So, I’m giving the current fresh afternoon highs only so much benefit of the doubt.