Pre-close View… Senza Gusto

Afternoon slide is lacking emphasis.

It has been relentless. Ever since the bias environment retested fresh session highs at 1993.00, price has trended down sharply. Now testing 1979.00, within 5 ticks of this morning’s low.

That’s too close to the morning’s low not to probe it. Eventually. Perhaps today, but not necessarily. Even the most bearish scenario can delay the capitulation — steep, deep trending — until tomorrow morning.

Regardless, this afternoon’s downtrending drop is not accumulative. But if short, don’t be too dismissive of too much of a bounce for too long, as a bigger bounce could develop before tomorrow morning — or the capitulation could be avoided altogether.