Pre-close View… Teasing.

Spending a lot of time at the highs.

As was suspected, the FOMC Minutes hawkish headlines were in contrast to the earlier dovish Fed speaker. So, the rally from 2165.50 up to 2176.75 was corrected, quickly , by a 61.8% retracement down to 2169.75.

That was recovered even more quickly, on the way to fresh session highs attacking 2180.00. In the hour since then, price has ranged narrowly and choppily around 2177.00.

Overbought RSIs at the 2179.75 high require its retest. And at this late stage, retesting the high would be likely to extend. Reversing down from here instead would have room to 2172.50 before suggesting a deeper drop underway.