Pre-close View… Deep enough?

Relatively shallow, for a correction.

During this weekend’s Saturday Review we discussed why the pattern had become vulnerable to a correction. It could last only several hours or several days. But higher objectives had been created, allowing a detour to refuel buyers. Meanwhile, upside momentum had weakened, and objectives below had been left outstanding.

Probing higher overnight didn’t prevent the morning from trending down. Holding the morning’s bias-down signal didn’t prevent probing lower during the afternoon — despite not triggering its bias-down, either.

Not very uncomfortable for a correction.

Probes under each bias-down signal were recovered coming out of the bias environment. But RSIs are oversold at the low, and the bias environment exit was under the noon hour’s low. Entering the final hour under 2054.75 would give sellers traction, targeting 2048.75 and potentially 2041.00.

Now THAT would be a correction.