Pre-close View… Game on.
Entering the final hour in rally mode.
The afternoon’s bias environment held its resistance at the 2056.00 bias-up signal. A dip to 2052.00 was largely retraced as the bias environment began lapsing. It was only several ticks, but that little bit of direction at that very important time gave offered a much greater degree of confidence in the upside.
Now the morning’s 2058.75 post-open high has been touched. Reacting to its obligatory resistance has formed a flag-like consolidation there that is now dipping back toward 2056.00.
Resuming the rally would imply that the 2-1/2 week old decline had ended, and that momentum is reversing up. Perhaps not the entire final hour, but much of it, could extend above 2061.00 to attack 2066.00-2068.00. Just trending up to fresh highs through 3:10-3:20 would indicate that tomorrow morning will trend up, too.
There’s otherwise no bullish reason to further delay extending higher. Especially no bullish reason to hold yet another test of 2059.50 — its resistance isn’t being chipped away if not exceeded through a relevant window. If not already underway into the close, then a bearish scenario would start tomorrow aggressively, if not overnight.
