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Pre-close View… Scraping the surface. – If, Then… Market Timing

Pre-close View… Scraping the surface.

Target met. More to come?

es_050216_pmGapping up this morning was the alternative to resuming the Thursday-Friday decline. This morning’s late bias-up let its 2073.00 target become “unfinished business above.” It also became this afternoon’s bias-up target, and it has been met.

Now the afternoon bias environment is lapsing. Still overlapping 2073.00 won’t invalidate the upside momentum, but entering the final hour above it would put into play 2080.00-2081.00.

More so, extending the rally today would be as bullish as if last week’s bounces had ever closed above 2091.00 resistance. Having exited the bias environment above the noon hour’s high, entering the final hour even higher would be helpful confirmation.

Otherwise, until there’s a little complexity back under 2073.00, the nearest sell signal currently is 2069.00.