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Pre-close View… Here comes the towel throwing. – If, Then… Market Timing

Pre-close View… Here comes the towel throwing.

Pullback has held support.

Extending the overnight rally had tested and retested this morning’s 2207.75 renewed bias-up target. That’s where the morning’s bias environment was entered. Its reaction down has extended to test and retest this afternoon’s 2199.75 bias-down signal. That’s where the bias environment was exited.

Resolving up is likely, but not necessarily today. Meanwhile, any delay in resolving up is vulnerable to extending the pullback. Extending the pullback would likely recover, but it could be from sharply lower levels.

Currently, a bounce is testing 2203.50, whose recover could launch a new rally leg. Regardless, a hold-long into the close may be contemplated.