Pre-close View… Traction.
Well-timed fresh highs.
The lower-end of the range’s return to the range’s upper-end has extended back up to prior highs. That includes the “anchor” which had formed at last Wednesday’s open. It was all but required to be retested, at least back to its 2210.25 open.
While the attraction above is being neutralized, upside momentum is being confirmed. The bias environment began lapsing above the noon hour’s high, and the final hour was entered higher. Except for one of two exceptions forming, tomorrow morning is likely to trend higher.
Currently, a 2-point reaction down is testing the noon hour’s highs as support. Almost any lower would likely also visit 2206.50, if not also 2204.25. All of which would maintain this afternoon’s traction to allow trending up in the morning, instead of inverting for a much deeper pullback.
