Pre-close View… Will it, or won’t it?

Will today finish as bearishly as it could have been bullish?

Failing to trigger a formed setup can resolve as bearishly as it would have been bullish (or vice versa). A session-long rally had formed this morning without actually exceeding its 2070.00 trigger through the open. So, instead of probing each prior timing window’s high, each prior timing window’s low can be probed.

Regardless, the setup has one exception. It’s usually the noon hour, but today it is the afternoon bias environment. Probing its 2051.25 low need not touch the noon hour’s 2048.50 low.

It’s interesting to know what the afternoon bias environment was doing instead of trending down. This morning’s no-bias trending under its 2058.00 bias-down signal required being retraced. Its 2064.00 10:15 print is often retraced, too, and it was.

Maybe now is a good time to repeat the criticism of this morning’s bullish session-long rally setup. While its 2070.00 trigger had been tested thoroughly pre-open, post-open only attacked it to within 1 tick. Rejecting a post-open test of 2070.00 would be more reliable.

Back under 2059.50 would signal momentum reversing down, potentially under 2051.25. Oversold RSIs at the 2048.50 low require its eventual retest. But entering the final hour above the bias environment’s 2064.00 high (being probed now) would give buyers traction, and we could get an intraday print above 2070.00 after all.