Pre-close view… Fools rushed in.

Minimum corrective bounce target met.

This afternoon”s 1986.00 bias-up target was already being tested at 1:20. It wasn”t exceeded to renew the bias-up signal. But it was still a bias-up environment… until 2:30 when the bias environment began lapsing. Or until coming within 10-15 minutes of that.

In fact, that”s when this afternoon”s 1976.00 bias-up signal started giving way as support. All the way down to 1944.00. That was actually a test of the 1949.00 target, and each bar there overlapped 1949.00, warning that sellers were losing momentum. Combine that with oversold RSIs, and suddenly 1979.00 is being tested as resistance.

Having tested one big corrective bounce target at 1986.00, any higher target would still put into play 1996.00 and 2000.00. Regardless, this remains only a temporary rally, prior not only to retesting the week”s lows, but probably also to resuming the aggressive decline.