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The failed gap down’s distant cousin has arrived. – If, Then… Market Timing

The failed gap down’s distant cousin has arrived.

Afternoon slide hesitates before testing the morning”s low.

This afternoon”s probe under the morning”s low came after the bias environment exit and was recovered before the final hour”s entry. The next probe was recovered, too. 

Or, at least, hasn”t extended down further.

Neither has it been reversed up. But back above 2111.00 would suggest as much. The noon hour”s 2114.75 would be targeted, if not also a retest of the 2117.75 high”s overbought RSIs.

Extending down is possible — more possible than in more than a week, as yesterday”s session began warning. But it is just a tad bit premature to start today.