Pre-close View… Correction done?

Holding a test of “higher prior lows.”

This afternoon’s 2122.00 bias-up signal triggered late. But it’s 2127.75 bias-up target was soon tested on the way up to 2130.00. A symmetrical triangle formed while the bias environment was lapsing, and it broke higher to 2132.00.

Symmetrical triangles tend often to break falsely in one direction and reverse more substantially in the opposite direction. Overbought RSIs at the high allowed price to trend down. But so far, only 2127.00 is being tested. That’s not yet a “more substantial” reversal.

Back above 2131.00 would suggest trending up overnight. Today’s recovery did gain traction for its efforts by exiting the bias environment above the noon hour’s high, and then entering the final hour higher. Its reward is to trend up after tomorrow’s open, but that could be fulfilled regardless of trending back down into the close.