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Pre-close View… Hanging by a thread. – If, Then… Market Timing

Pre-close View… Hanging by a thread.

Almost no upside attraction outstanding.

Simultaneously overbought RSIs at this morning’s 1943.00 high required a retest. The bias environment  probed it by 3 ticks.

That was a no-bias environment, and probing above its 1941.00 bias-up signal was doomed to failure. Often, the 1:20 bias timing print is retraced, too. And it was, at 1939.00, and lower back down to 1936.00.

Breaking under 1936.00 would have room down to 1927.00 and 1923.00. Otherwise, back above 1938.50 would start to signal a retest underway of session highs like 1946.00 and potentially 1952.00-1953.00.

Having probed January’s high, a top can now begin forming. I would still expect today’s gap up to be retested from below, eventually — either before a durable decline can begin, or on the way to sharply higher highs.