Pre-close View… Decision time.

Afternoon bounce is at critical point.

Opening weakness had an opportunity to hold a test of yesterday’s unfinished business below 2097.75 and then bounce to the 2106.00 area. The objective’s noon hour test has now bounced to 2106.50.

Bouncing to the 2106.00 area this morning would have produced a new downleg, being early enough to attract counter-trend sponsorship. Testing it this afternoon could extend higher, as shorts cover before the nearing close.

The bounce is testing higher prior lows at the lower-end of yesterday afternoon’s bias environment. Recovering its resistance would resolve in a retest of yesterday’s 2110.75 high. Meanwhile, the bounce’s failure would target not only fresh lows, but also launch a new downleg, leaving no unfinished business above.