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Pre-close View… No RSI left behind! – If, Then… Market Timing

Pre-close View… No RSI left behind!

Fresh lows stuck under prior highs.

es_110216_pmThe noon hour’s consolidation above 2097.00 started breaking lower coming out of the noon hour. Bouncing off of 2092.00 blipped up to 2097.00 in reaction to the FOMC statement. Blipping-up then blapped down, aggressively, to 2087.25.

That fulfilled the 2088.00 bias-down target. And a steep recovery from there exited the bias environment back above its 2093.50 bias-down signal to attack 2100.00. Now 2093.50 is being retested at the final hour’s entry.

Oversold RSIs at the 2087.25 low require an eventual retest, probably down to 2082.00, with room down to 2077.50. Unless 2098.00 were recovered quickly, extending above 2100.00 through the 3:10-3:20 timing window, the low’s retest is likely.