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Pre-close View… Floating above the flames. – If, Then… Market Timing

Pre-close View… Floating above the flames.

Afternoon range seems to be delaying the inevitable.

This afternoon’s 2124.50 late bias-up signal triggered late and attacked its 2130.75 target to within 5 ticks. The 2116.75 had been probed down to 2112.25 where we knew to anticipate obligatory support.

The 17-point rally went above and beyond, but it didn’t alter the bigger picture which still points down. The low has been attacked to within 5 ticks.

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That might be all today can offer for predictable patterns. Stopping optimistically short of touching yesterday’s 2110.50 post-open low is likely to be only temporary. Its break would likely slice through Sunday night’s lows to 2095.00.

All of which could still develop today — there’s at least that vulnerability.

Gapping down under 2134.00 and also closing under it keeps alive the trend change pattern that began forming Friday. Not yet confirmed, recovering 2134.00 through tomorrow’s open would undermine it.