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

Pre-close View… Traction.

Selling pressure confirmed.

Trending down through the noon hour had triggered bias-down, stopping 1 point short of the 2035.00 bias-down target. Bouncing during the bias environment attacked 2045.00. es_062416_pmThe bias environment was exited at or under the noon hour’s low.

Traction? Maybe.

The final hour was entered at or under the bias environment’s low. That’s traction. Trending down to fresh afternoon lows through the 3:10-3:20 timing window would confirm.

And the 3:10-3:20 timing window just trended down to 2022.25. That required absorbing a last-minute corrective bounce to 2038.25, so sellers seem intent on retaining control.

Probing under the 1999.00 overnight low would target 1993.50 (typo’d earlier as 2093.50), whether today or tomorrow. Meeting it today would greet the weekend vulnerable to gapping down sharply Monday. Leaving the attraction outstanding would help to resume the decline after the weekend.