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Pre-close View… Dug in. – If, Then… Market Timing

Pre-close View… Dug in.

Afternoon action glued to yesterday’s high.

Extending down under the afternoon’s 1863.00 bias-down signal touched 1852.00 before snapping back up. The final hour’s entry was testing 1870.00.

Each is well under the noon hour’s 1873.25 low. But not successively lower, so sellers gained no traction. A dip to 1858.00 is now retesting 1870.00 as the position-squaring window opens.

This is also yesterday’s recovery high. Still ranging around it through today’s close is undermining the credibility of yesterday’s rally. A late surge is possible, but its origin would be too late to suggest a bigger bottom is in.