Pre-close view… Get a grip.

Corrective bounce done, or recovery ready to accelerate?

The afternoon”s bounce came within 1 tick of fulfilling its 2080.00 objective as the bias environment began lapsing at 2:30. Price action since then has drifted back down to 2077.00.

In fact, every leg has overlapped 2077.00 since testing it into the noon hour. It hasn”t let go. And it hasn”t been recovered.

So, was this bounce a classic second-to-last hour counter-trend leg that often precedes resuming the intraday trend? Those happen often during strongly trending sessions. Or, is another recovery leg about to begin, at a steeper pace than its first 10 points from 2070.00?

Back above 2082.25 would confirm a bigger rally targeting at least 2088.00. But back under 2074.00 would target fresh session lows, which is tough to defend against extending this late in the day.