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Pre-close View… Fallen and can’t stay down. – If, Then… Market Timing

Pre-close View… Fallen and can’t stay down.

Probing fresh lows caught a bid.

Exiting the morning’s bias environment probing fresh post-open lows stopped short of touching the overnight low. Firming through the noon hour and into the bias environment’s entry triggered no-bias.

The afternoon’s no-bias environment began lapsing back at the morning’s low. And then lower. But only momentarily.

Crude Oil headlines triggered a surge. More than a surge, like Godzilla is more than a lizard. A 27-point move in under a half-hour was attacking the morning’s high. And that has been retraced by 15 points.

Stopping short of this morning’s high is pessimistic. Pessimism at the peak of a 27-point surge seems counter-intuitive, and it is. But if the rally were to restart, then new highs are required.

It’s getting a little late to resume the rally, but the position-squaring window is still coming at 3:37. Catching a wind at its back can reach 1850.00 and higher. Resuming the decline is unlikely today.*

*Famous last words.