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Pre-close View… Stuck upward. – If, Then… Market Timing

Pre-close View… Stuck upward.

Still probing nailed to the highs.

The bias environment exit was above the noon hour’s high. But neither the final hour’s entry nor the 3:10-3:20 timing window extended higher. The rally isn’t gaining traction for today’s efforts.

But it also isn’t being rejected. Trending sessions that exit the bias environment above all prior timing window extremes tend not to reverse intraday. This doesn’t mean the rally will extend higher, although overbought RSIs at the high do require a retest. But trending back down is difficult.

The high touched this afternoon’s 2110.25 bias-up target, and its immediate reaction violated the pullback limit without delay. So, the most bullish scenario may be limited to ranging sideways into the close.

That said, a temporary corrective pullback to 2104.00 would not undermine the rally. Probing under 2102.00 could be a problem.