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Pre-close view… Setting up on the back tees. – If, Then… Market Timing

Pre-close view… Setting up on the back tees.

Sellers gaining traction as they meet more downside targets.

The offsetting test of this morning”s 2104.25 bias-down signal had been met to within 3 ticks. That was close enough to neutralize its attraction. But it didn”t attract buyers, instead extending down to 2099.50.

Oversold RSIs at the 2099.50 low require its retest. Its retest is likely, down to 2098.50, so long as 2103.00 isn”t recovered first (being probed now).

Meanwhile, the final hour was entered under the bias environment”s low. This followed the bias environment exiting under the noon hour”s low. Sellers gained traction, and their reward is to control the next morning. Not just piercing a fresh low, but trading exclusively negative, and possible trending down.

That reward can be avoided by rallying instead. But the only credible rally tomorrow would begin by gapping up.

Currently, a bounce is testing 2104.25. Extending higher can leave the “unfinished business below” outstanding. But back under 2101.50 would target 2098.50.