Pre-close view… Fresh lows coming?

Not just for today, but for the week.

The afternoon”s 2115.75 bias-up signal was attacked to within 2 ticks. But not until 1:30, when recovering it would have only invalidated the no-bias. So, it held.

An offsetting test of the 2104.25 bias-down signal wasn”t required, but it”s being tested now. Probed down to 2103.00 as the final hour approaches.

The bias environment was exited under the noon hour”s low. Entering the final hour under the bias environment”s 2105.75 low would have signaled the decline is gaining traction. But it”s being overlapped into the final hour, so trending down under the 2103.00 low through 3:10-3:20 would still be bearish.

This setup normally would be compelling for a hold-short. Today”s traction setup includes a failed probe above the noon hour”s high, making a more substantial rejection of the recovery, and making hold-short more compelling.

Regardless of the ultimate traction signal, being a Friday makes the last half-hour extra vulnerable to trending sharply in either direction, for whatever reason. Example: A 12-point rally from this morning”s low was triggered by a headline, and it was just retraced almost entirely.