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Pre-close View… Paradigm shift. – If, Then… Market Timing

Pre-close View… Paradigm shift.

Target met. Timing window lapsed. Direction down.

es_082416_pmThis morning’s 2177.00 bias-down target was met at the afternoon bias environment’s low. Its consolidation just broke lower, after entering the final hour.

Entering the final hour under 2177.00 would have been more clearly bearish. Despite probing it now down to 2173.75, it can recover. And closing back above it could launch a rally to new highs. Closing under 2177.00 — and under 2170.75 if touched — would launch a sizable new downleg.

The bias environment was exited under the noon hour’s low, but the final hour’s entry wasn’t lower, so traction isn’t assured. Bouncing into the close cannot be discounted.