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Pre-close View… Corrective dip in a corrective bounce. – If, Then… Market Timing

Pre-close View… Corrective dip in a corrective bounce.

Bias-up environment’s support failed.

The noon hour probed repeatedly above the 1909.25 bias-up signal. Its 1914.00 bias-up target was met by 1:20. It was met again after a dip back down to the bias-up signal.

Being a bias-up environment whose target was already met, trending higher would be more difficult, but not impossible. Not until another dip back to the bias-up signal’s support.

Some support. Despite being likely to define the range’s lower-end, it broken lower. Its break extended to 1899.50 during the bias-environment. It extended a little deeper a little later.

Often, trending away from the likely influences is compensated by a surge in the original direction So, any upside traction could produce fresh afternoon highs. Trending down isn’t likely ahead of tomorrow’s report.