Pre-close view… Still no takers.

Overnight rally disappeared, but still not totally replaced.

The pre-open surge in reaction to China”s rate cut has yet to be retested. Ranging 1930.00-1948.00 into the open broke a little lower down to 1922.00 during the morning”s bias environment. But only temporarily, as that was recovered to 1945.00 before the bias environment began lapsing.

Price action since then has trended down, and much more deeply. The afternoon”s 1921.00 bias-down signal wasn”t touched in time to trigger or to invoke the grace period. But a plunge broke it decisively by 1:30 to invalidate the no-bias signal. The 1911.00 bias-down target wasn”t actually put into play, but it held multiple tests at the low anyway.

And now the bias environment is lapsing. The overnight rally hasn”t extended, but the pullback isn”t deep enough to have rejected it, let alone to have reversed it down.

It”s not too late — the bias environment was exited under the noon hours low, and entering the final hour under the bias environment”s 1910.00 low would give sellers traction. That gets very unlikely if probing above 1920.00 before the final hour.