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

Pre-close View… Relentless.

Noon hour high’s retest hardly hesitates.

Actually, the noon hour high’s retest did react down briefly at its 2041.50 target. But that took only enough time to touch the 2040.25 pullback limit. Soon, the rally was extending up to 2046.25.

Meanwhile, last Monday’s 2044.50 high was touched. That’s called the “pivotal high,” being the high prior to last Tuesday’s 2047.50 actual high. Having probed under their interim low, recovering to touch the pivotal high all but requires revisiting the actual high.

The actual high isn’t always revisited immediately. Reacting down first is likely to recover. Today’s test doesn’t seem interested in more than a brief pause, as fresh highs are now within 3 ticks of 2047.50.

More important for tomorrow is whether the 3:10-3:20 timing window maintains its probe of fresh session highs. That would complement the bias environment exit having been above the noon hour’s high, gaining traction for extending higher tomorrow morning. Fresh highs could be probed anyway, but probably not maintained.