Pre-close view… Two inversions don’t make a right.
Slow-playing the last downleg.
Probing fresh session lows into and out of the noon hour reached 2060.75 before bouncing back 6 points. The bias environment;s fresh low at 2059.75 has bounced back 6 points, too.
Now the final hour has begun. The session-long decline”s template — which we”re tracking since having inverted the open”s session-long rally setup — should drop at least 6 points to fresh session lows. Back under 2064.25 and 2063.00 would signal the break underway.
Developing exclusively in positive territory doesn”t undermine the session-long decline template. It might speak to any potential follow-through tomorrow. But so long as 2066.00 continues holding as resistance or recaptures any momentary probe above it, the template remains intact.
