Wednesday afternoon”s corrective bounce peaked

Wednesday afternoon”s corrective bounce peaked at 2098.50, where the noon hour was entered. Entering the noon hour any lower would have reflected so much selling pressure that the balance of the session would have trended down instead of ranging sideways. So, not exploiting the opportunity to recover 2098.50 does suggest lower lows are likely.

Wednesday afternoon”s outstanding 2088.75 bias-down target also suggest lower lows are likely. So does the 2090.75 low”s oversold RSIs that require a retest. Since Wednesday”s entire session developed in positive territory, neutralizing these lower attractions overnight could still greet Thursday”s open recovering into positive territory. Not already recovering from their overnight tests would likely gap down even more sharply.

Fresh lows can be avoided altogether. It”s the least likely scenario, but gapping up above 2099.25-2101.50 would be likely to retest Wednesday”s highs that tested 2105.50. Gapping up and immediately recovering 2105.50 would simply target new highs.

Details and other markets coverage are in the post-market Tour recorded at
https://roddavid10.mitel-nhwc.com/join/wzjkjzs

After 6:30 ET tonight, use the following links to monitor the chaRTroom overnight:
Win XP-Friendly — http://anymeeting.com/520-238-492
non-xp friendly — https://roddavid10.mitel-nhwc.com/join/bfyytsh