Pre-close View… Mmmm, pudding!

Growing proof that the drop was weak-handed.

Only 2 errant ticks pierced this morning’s 2075.50 bias-down target. That’s less relevant than the fact that it held through 11:30. Having originated during a no-bias environment, its 2081.75 bias-down signal required retracement. This “no-bias trending” would have been invalidated if 2075.50 had not held.

2081.75 was retested, along with the 2092.00 10:15 print that is also often retested after no-bias trending. Which leaves one more objective outstanding, this morning’s offsetting test of its 2092.00 bias-up signal.

There’s still risk of reversing down. Oversold RSIs at the 2075.00 low require its eventual retest, but with any particular timing. And this afternoon’s rally leg was launched from a Symmetrical Triangle, a pattern that often breaks falsely in one direction before reversing more substantially in the opposite direction.

But momentum is currently pointed up. The afternoon’s rally has been consolidating just under yesterday’s late afternoon highs, pessimism that is potentially bullish from a contrarian perspective. Especially if the 3:10-3:20 timing window were to trend higher, the balance of the session should extend higher, too.