Pre-close view… Detour gaining traction.

Sellers haven”t yet gained traction for today”s effort.

This afternoon”s bias environment was exited at 2:30 at 2087.50 under the noon hour”s 2091.25 low. Sellers would have gained traction by entering the final hour under 2087.50. But it was still being overlapped at 2088.00.

There”s still a proxy. 

Trending down to fresh lows through the 3:10-3:20 timing window would do what the final hour”s entry did not, and confirm that sellers are gaining traction. Otherwise, all of today”s selling pressure will have been satisfied. Gapping down tomorrow would be the only way to resume the decline.

The likelihood for having retraced last Wednesday afternoon”s FOMC reaction within one week is quickly approaching. Fulfilling outstanding upside objectives at 2102.00 and 2110.25 first would only make the downside attraction more difficult. Fulfilling the downside attraction first would make the upside more difficult.

Recovering today to close positive would make the upside likelier, first. And currently the 3:10-3:20 timing window is being entered on a bounce up to 2091.00.