Pre-close View… SPECIAL NOTE.
I’m unavailable the last half-hour today.
WE WILL HAVE MARKET WRAP EARLY AT 3:15 ET.
This afternoon’s 1995.50 bias-up signal was recovered during the noon hour. Its 2002.00 bias-up target was recovered at the 1:20 bias timing window. That renewed the bias-up signal, next targeting 2007.50.
2007.50 was just tested. Exiting the bias environment above it would next target 2011.00-2012.00. But that would likely be only a formality on the path up to 2019.50.
This recovery can still be reversed today. Exiting the bias environment at 2:30 or entering the final hour under 2002.00 would at least target 1995.50. Failing to hold above this morning’s ~2000.00 highs would suggest momentum is reversing down.
The origin of this rally has left behind Wednesday’s bearish close, and also this morning’s bearish bias environment exit. It’s clearly on a mission to neutralize attractions above. But the mission’s origin is not solid, so we know it’s only temporary, albeit currently in command.
