Pre-close View… The little engine that could.

FOMC reaction absorbed, not yet reversed.

This afternoon’s 2156.00 bias-down signal triggered noN-bias. That wasn’t the strongest position to greet the FOMC statement. It wasn’t the weakest either. A knee-jerk reaction down to 2152.00 was retraced entirely to 2160.00.

Consolidating there eventually broke higher for 2-3 minutes to attack 2165.00, exiting the bias environment above the noon hour highs. The next consolidation just blipped up to pierce 2165.00 momentarily, 2-3 minutes too late to enter the noon hour above the bias environment high.

The recovery could still extend today, and probably probe this morning’s highs. But its durability would depend on gaining traction by trending up through the 3:10-3:20 timing window now underway.

This is not when the rally should restrain optimism. Not unless it intends only to probe fresh highs shallowly and briefly before reversing down.