Pre-close View… Down for the count.
Not reversing the session’s slide.
The afternoon’s 2156.00 low was recovered back up to the 2161.25 bias-down signal. Its resistance didn’t have to prevent extending the recovery. But the timing windows didn’t help.
Having trended down into the afternoon, exiting the bias environment back above a prior high could have triggered a short-squeeze. But the prior high wasn’t touched until after entering the final hour, still under 2161.25.
The recovery is firming anyway, probing the open’s 2161.75 low and attacking the noon hour’s 2163.75 prior high. But the timing has made this recovery suspicious, so reversing down remains a possibility.
SPECIAL PROGRAMMING NOTE: There is no Saturday Review this weekend. Today’s post-close Market Wrap will be expanded to include a Bigger Picture discussion and stock requests.
