Pre-close view… FOMC retraced, but is there more?

FOMC reaction retraced entirely within one week.

It”s never the same. And it”s not a timing tool, nor is it context. It”s just interesting that any reaction to an FOMC policy statement tends to be retraced entirely within the first week.

And today, one hour short of last week”s statement that had triggered a 38-point rally to 2099.00, it was retraced entirely to its 2061.50 effective origin.

It has no meaning, other than to reinforce our reliance on timing windows being a reflection of human nature. Retracing it entirely is ultimately more important than its timing, as that”s what proves the move”s artificiality.

Speaking of which… All of this afternoon”s bias environment since triggering at 1:20 was spent “trending” up. Each upleg was resisted by the 2066.50 bias-down signal. And now the 2059.50 bias-down target has been met.

So long as 2063.00 and 2065.00 aren”t recovered — especially if not recovered by 3:20 — the drop”s momentum remains intact.