Pre-close View… Deja vu, all over again.
Narrow afternoon ranging. Like yesterday.
If similar setups that appear sequentially should resolve differently, then today’s pattern is in for a surprise. Gapping up, recovering a gap down, and afternoon no-bias signals — both yesterday and today — ranged sideways through the afternoon bias environment.
Yesterday resolved down, relatively little. Today should either resolve down a lot, or else resume the rally.
Extending the range into the close is possible. But it’s unlikely since no traction was gained at the bias environment exit or the final hour’s entry.
Regardless, closing above 2143.00 would put into play higher objectives, which we’ll discuss in detail during the post-market Wrap. Closing under 2143.00 would have implications, too, depending on how substantial the margin.
