Pre-close view… Pent-up pressure.

The bias environment”s exit at 2:30 was testing the noon hour”s 2108.00 upper-end. The final hour”s entry was testing the bias environment”s 2108.50 upper-end. And fresh highs were probed in between.

This is essentially the formula for buyers gaining traction, but there”s a caveat: This all happened within several ticks of each other, and all on overlapping legs. But we”ll give buyers a benefit of the doubt for gaining traction, since the implication is in-line with the bigger picture scenario.

So, what about the 3-1/2 point plunge back to 2105.50? Good question.

It is aggressive, but its timing is suspicious and it is holding prior lows. Closing back above 2109.00 would confirm it was just last-minute jitters before today”s post-close earnings, worried about more AAPL-style reactions.

Regardless, it”s too late for any rally leg to actually reverse the trend up. At this late stage, price action can only undermine the decline, or extend it.