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Pre-close View… Steep, shallow slopes don’t last. – If, Then… Market Timing

Pre-close View… Steep, shallow slopes don’t last.

Repeatedly rejecting probes of higher highs.

Yesterday afternoon’s buyers gained no traction for their efforts. Extending the rally today before late-afternoon required gapping up. Failing that pre-open attempt doesn’t prevent later attempts; it just causes them to fail.

And they have. The noon hour’s probe above the 2079.50 pre-open high up to 2081.75 was reversed back under yesterday’s 2077.00 high to 2075.25. Its reaction up to 2078.75 was reversed even lower to 2074.50.

But now it’s late-afternoon as the bias environment has begun lapsing. The noon hour’s fresh high makes diving into the close unlikely, without already exiting the bias environment under the morning’s lows. But that’s a vulnerability anyway until recovering yesterday’s 2077.00 high.

Otherwise, recovering yesterday’s 2077.00 high should trend up aggressively to fresh session highs at 2082.25. Not entering the final hour already trending up sharply would remain vulnerable to retesting the overnight low.