Pre-close View… Defining moment.

Probing fresh highs, with almost no momentum.

Having gapped down in an uptrend, this afternoon’s probe above Friday’s ~2013.00 high creates the basis for a bearish setup. Bearish, if it’s exploited, when the simpler path is to extend higher.

Exploiting the bearish setup would reverse back down to close under this morning’s 2002.00 low. The resulting setup would be a “Pivot Reversal,” which tends to be bearish almost immediately and substantially.

It’s getting late for reversing down. A drop would have to be apparent very soon, if not already. In fact, the last half-hour is being greeted at yet another post-open high at 2015.00.

The prevailing trend always gets a benefit of the doubt. But don’t be too dismissive of a sudden reversal back under 2011.00 during the Position-Squaring window that’s about to open.