Pre-close View… No-bias trending.

Spoiler alert: I’ve buried the lede.

This afternoon’s 2101.00 bias-up signal didn’t trigger. And it wasn’t exceeded through 1:30 to invalidate the no-bias environment. But it was broken anyway, and price has extended up to 2104.50. This is “no-bias trending,” and it requires being retraced to at least the 2101.00 bias-up signal.

There’s no timing requirement to the retracement, which can happen at any time. But the ongoing series of higher highs and higher lows is trending, so we know that the first reaction down won’t be THE reaction down, but a warning shot. And even that warning shot could be absorbed for higher highs.

Meanwhile, consider the main implication of probing higher highs, which is the long-awaited retest of last year’s last relative high is now being fulfilled. Now consider the context of neutralizing the upside objective, which is being done by a leg that is doomed to failure.

That attraction above is neutralized at 2110.00, another 5 points higher. Not yet neutralizing the attraction below at 2101.00 would be very vulnerable to reversing down sharply. So, even the most bullish scenario should test 2101.00 today or overnight.