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Pre-close View… Fallen and trying to get up. – If, Then… Market Timing

Pre-close View… Fallen and trying to get up.

Late break lower about to meet position-squaring.

Firming from the noon hour’s exit had bounced 11 points to attack 2015.00. The bias environment exit was a little lower, back at the afternoon’s 2009.50 bias-down signal. That’s where the noon hour was entered, too.

It was similar in principle to this morning’s ranging. That was certainly wider, but it also rejected the support test by delaying a recovery. The bias environment exit delayed recovery from testing 2009.50. And it also produced a new downleg.

Now that setup’s 2000.25 target has been met and probed down to 1998.50. A reaction up to 2005.00 is trying to extend even 1 tick higher to confirm its return underway to 2009.50.

That’s taking awhile, and fresh lows can’t be dismissed, if only to retest the low’s oversold RSIs. And possibly to slide more sharply into the weekend.