Pre-close view… No surprise, no trending.
Narrow, choppy and sideways ahead of the holiday.
Volume and participation evaporate ahead of most three-day holiday weekends. That was one factor which contributed to expecting the open”s trending to be substantial. The delayed recovery from Tuesday night”s dip had only a small window of opportunity, and a long way to go.
It got there.
The morning”s renewed bias-up signal doesn”t require fulfilling its target like a simple bias-up, but it”s a target. And it doesn”t marginalize sellers altogether, but it does minimize them.
So, sellers have been unlikely to regain control, while buyers haven”t been much likelier to exert any more control. A window has opened at 3:37, in the form of the position-squaring window. Getting through 2060.75-2061.25 and 2063.00-2064.00 could tick higher to 2068.75-2070.50 through the close.
Otherwise, there”s no requirement to tick higher at all, and little likelihood of ticking down.
