Pre-close View… Treading water.

Recovery still elusive, but capitulation is still hiding.

This morning’s plunge to 1978.00 had recovered to its 1991.00 origin as the bias environment began lapsing. Ranging sideways into the noon hour never extended higher. The recovery wasn’t exploited.

Dipping into the afternoon bias timing window attacked 1982.00. The bias environment mimicked this morning’s action by also refusing to extend down.

Price action has remained within the noon hour’s range. Firming back up to 1989.00 was temporary, reacting down, trending down several points but not to new lows.

Unless a rally were to gain traction, the door remains open to price collapsing. Multiple opportunities have been ignored, but it’s getting so late in the day that an actual attempt to rally might not be credible.