Pre-close View… Poised.

Another pullback, another recovery attempt.

The pre-open drop on Draghi’s comments were recovered entirely soon after the open. The mid-morning 14-point plunge was recovered entirely, too. Almost, actually, just 1 point short of the earlier bounce.

Now that recovery has pulled back 8 points, and recovered all but 2 points of it.

None of the drops are gaining traction. Whether they’re trapping shorts depends upon whether a recovery produces fresh highs. So far, only lower and lower highs. Only slightly lower highs, but lower and lower.

And now a new timing window has begun.

There remains potential to rally, just needing to be triggered above 2138.00-2139.75 through a relevant timing window — the only remaining candidate is the 3:37-3:52 position-squaring window. The alternative isn’t necessarily to fall, but back under 2134.50 could extend back down to this morning’s 2126.75 low.