Pre-close View… Coming home to roost.

Delaying a shallow pullback has led to a deeper one.

This morning’s late rally to fresh highs during a no-bias environment was entirely acceptable, since it held a test of the 1953.00 bias-up signal. But the late rally’s origin interrupted a slingshot pattern that usually probes slightly lower before snapping back sharply in the opposite direction.

This morning’s pattern snapped up sharply, without any slingshot. So, we knew it was doomed to failure. But having tested the 1952.00-1953.00 resistance, I gave it credibility for testing Friday’s 1968.75 pre-open high, too.

Nope. Reacting down from 1956.25 through the noon hour had at least attacked the afternoon’s 1948.00 bias-down signal. But bias-down didn’t trigger. Not at 1:20, and neither did fresh lows invalidate no-bias at 1:30. But the slide resumed and now 1933.00 is being attacked.

Oversold RSIs prevent a durable recovery from here. So does a greater potential to retest 1930.00 intraday. Otherwise, no buy signal can trigger under 1941.00.