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Pre-close View… Hanging on for dear life. – If, Then… Market Timing

Pre-close View… Hanging on for dear life.

Choppy ranging tries breaking higher.

Oversold RSIs at this morning’s 2239.50 low have yet to be retested. That’s an attraction below.

Several attacks to within 1-3 ticks have stopped optimistically short of neutralizing the low. That’s potentially bearish from a contrarian perspective.

Ranging choppily between two inflection points has chipped away at both 2240.25-2244.25. Finally a break higher has been attempted, but too late for it to be more than a false break. In fact, RSIs diverged negatively upon touching 2246.50. And its reaction down has already fallen 4 points.

A fresh high above 2246.50 would be credible for extending higher. Otherwise, the vulnerability is down, likely filling the gap to Friday’s 2236.50 close. Either a better bottom can form there, or else last week’s decline can resume.