Pre-close view… Session-long?
Only one timing window has avoided probing a prior high.
Gapping up Friday above Thursday afternoon”s high would have formed a session-long rally setup, since Thursday”s close had trended down.
Friday”s session did not just avoid gapping up. It was a non-event. So, gapping up today above Thursday afternoon”s high had bullish potential for expending pent-up buying pressure.
And this morning”s open gapped up a lot.
I discount a session-long rally setup that forms on Mondays, because the weekend can soften the prior week”s sentiment. I barely even consider a session-long rally setup that ignores a session.
But it is interesting that only one timing window today has not probed its prior timing window”s high (this morning”s bias environment, not the noon hour). One timing window, so far.
The final hour is being entered shortly. Will it probe a fresh high? Having neutralized the upside attraction (assuming it is), will the a reversal down develop without?
The balance of the session isn”t immune from trending back down, anyway. But the 2082.25 bias-up signal should be met first.
