Pre-close view… Standing still is to fall.

Recovery still needs to squeeze a couple of shorts.

Trending higher through the noon hour probed the 2109.00 afternoon bias-up signal by 5 ticks. It avoided the grace period by 1 tick, but was invalidated by failing to hold it through 1:30.

The bias environment drifted back down into the 2104.25-2105.00 range, whose resistance launched the overnight and post-open drops. Now its support must launch a closing rally.

Just ranging sideways through the close would suggest a downleg tomorrow or overnight. Its recovery wouldn”t be assured — getting to within the orbit of this morning”s oversold RSIs at 2088.25 would make its retest likely. And it”s retest isn”t likely to hold. A corrective dip to only 2099.00 could still qualifying as refueling the rally.

But why bother with another dip. The recovery from probing again under 2190.00-2195.25 is equivalent to 3 Red Bulls and half a Ritalin. The rally would be better served by getting some of that out of its system, by closing above the bias environment”s highs, preferably at least above 2114.75. And preferably by extending through the 3:1–3:20 timing window since the final hour”s entry didn”t trend.