Pre-close View… The recovery hits a snag.

Surge to fresh highs suddenly collapses.

A noN-bias environment usually sucks volatility out of the market, and this afternoon’s was little different.  Still testing the 2048.75 bias-up signal at 1:20 and at 1:30 didn’t resume rallying until the bias environment was within view of lapsing. That produced a 9-point surge to 2058.00.

Then things got weird.

Despite violating the pullback limit by dipping to 2054.25, the surge resumed almost immediately and probed a fresh high. No accumulative pattern had formed in the interim, so that was weak-handed and vulnerable to failure.

No kidding.

The failure has extended down considerably, attacking 2043.00. That might have found support, and back above 2047.00 could launch a recovery targeting a close above 2052.00. There is otherwise room back down to 2041.00, or else 2039.00.