Pre-close view… Is it still a rubber band?

Stretching back down to bounce up has gotten close to breaking.

The 2084.50 bias-down target was met after the bias environment began lapsing, on the way down to 2081.50. It quickly reacted back up to 2084.50, and then down to 2081.50 again.

Simultaneously oversold RSIs diverged positively on the retest. That”s potentially bullish, at least for a bounce back toward the bias environment”s 2090.75 high. Back above the positive divergence”s 2084.50 interim high would be a credible start. It was just pierced, but by only an errant tick.

Not bouncing higher, and instead probing a fresh low first, could be very bearish. Dramatically lower before the close, targeting the 2060.00 area.

The last positive divergence at 2086.00 probed lower without first probing above its interim high. Two such consecutive patterns would suggest much bigger selling pressure coming down the pipeline.