Recovery requires trending, which tomorrow's news is inhibiting.

Being a no-bias environment, and having triggered without first testing either bias signal, no test of any specific level was required. But if tested, the 2063.25 bias-up signal needed to define the bias environment's low. In other words, a sell signal had that much room to try trending.

The first hour's narrow ranging around ~2069.00 finally formed a couple of sell signals at ~2070.50 and 2068.25 that launched a trending attempt. Testing and retesting of 2063.25 by 2 points ultimately held. Now the basing there has launched a bounce back to ~2070.50.

Recovering all of today's slide is possible. Less possible to be done today because of tomorrow's impending Employment Situation Report. Less possible to be done today because of the noon hour's initial trending. And less possible to be done today because of the open's 2069.75 print already being tested.

Oversold RSIs at this morning's 2061.25 low will need to be retested eventually. Not necessarily today, and probably on the way down to 2057.75 when the retest does occur. The gap back to yesterday's 2073.25 close doesn't require being filled in this pattern. Probably not today, but probably on the way up to the 2080's if that does occur.

Dry cleaners morning? Not so much. Dry cleaners afternoon? More possible.

UPDATE: News that the ECB is readying a QE proposal for its January meeting triggered a 7-point spike up to probe another new high. The one-hour, 15-point move (of which signals caught 10 points) has now lost momentum. Perhaps it's safe to do errands again.