Pre-close View… Range-bound means rally.

At least, it would look that way within such a wide range.

Exiting the bias environment probing the open’s 1855.50 low had an excellent opportunity to dive much deeper. Signals had triggered already from the prior bounce to 1866.00. The rally could have been largely retraced (but probably not reversed).

But bouncing into and out of the noon hour attacked 1872.00. And that’s just a corrective bounce, still well off of the morning’ 1877.75 high. Such is the power of wide ranges.

Now, another dip attacking 1856.00 is stopping short of extending down. Stopping short as much in terms of price, as in terms of time. Entering the final hour under prior lows would have been bearish. Trying, and failing, is not.

Not bearish doesn’t equal bullish. But the balance of the session can attack the upper-end of just this afternoon’s range and still be a substantial rally-like bounce. In fact, the latest reaction up is already attacking 1865.00.

It’s too late to signal a substantial resumption of the recovery. And resuming the decline should be obvious through 3:10-3:20 if it’s in-play.