Pre-close view.. Fighting the lifeguard.

Fresh low finally (albeit barely) probed.

One of the most important lessons learned by lifeguards is not to let drowning victims drag you under with them. I”m reminded of this while trading several attacks and probes of fresh lows that keep fighting back prematurely.

This afternoon”s renewed bias-down environment dipped eventually to 1913.25. This could have served to launch a recovery, and in fact it was recovered back up to this afternoon”s 1926.00 bias-down signal. But its resistance pushed back, and now another slightly lower fresh low is flailing about at 1912.75.

Trending down through 3:10-3:20 could have added a lot of confidence to riding a short through the close. So long as 1920.50 isn”t recovered, I”ll still give fresh lows a benefit of the doubt for testing not only 1911.00 but also 1907.00.