Pre-close View… Traction.

Sellers gain traction for tomorrow.

This afternoon’s bias environment was exited under its 2032.50 bias-down target. Usually, probing under its 2038.00 bias-down signal after 1:30 during a no-bias environment would require retracing to 2038.00 at some point. But not if also trending under the 2032.50 target by 2:30.

That doesn’t prevent a bounce back to 2038.00 anyway. And it doesn’t prevent a durable recovery. But neither is required.

Meanwhile, the bias environment was exited under the noon hour’s low, and the final hour hour was entered under the bias environment’s low (testing 2026.00). Sellers have gained traction for their efforts. Regardless of price action for the balance of the session, tomorrow morning is likely to probe fresh lows.

Being entrenched, sellers are exploiting the opportunity to refuel by allowing a bounce up to 2032.50. Back under 2029.50 would signal the decline has resumed already, next targeting 2021.00-2022.00.