Pre-close view… More to come?
Unfinished business above at this afternoon”s 2128.25 bias-up target. Invalidating it became difficult after probing above its pre-1:20 high. Now invalidating it is almost impossible, having exited the bias environment at a fresh session extreme, attacking 2126.00.
The rally isn”t precluded from retracing. Having entrenched the upside attraction, the pattern becomes vulnerable to a corrective dip, and has reacted down to 2124.00. But exiting the bias environment at a new session extreme is rarely reversed during the next timing window.
More so, the rally can gain traction that helps to ensure trending higher tomorrow morning. Exiting the bias environment above the noon hour”s high is half of the traction signal. The other half is to enter the final hour above the bias environment”s 2125.50 high, or to probe new highs through the 3:10-3:20 timing window.
Entering the final hour back under the 2120.75 prior low could still invalidate the upward moment. But even that would be suspicious. Otherwise, the rally”s minimum 2136.25 target is only getting closer.
