A third late rally?

Pattern now requires bulls to repeat themselves. Again.

The bias environment began lapsing at 11:30, which allowed a fresh high above 2114.25 to extend higher into the noon hour. Extending higher trended, meaning that one fresh high”s reaction down was recovered to a second fresh high. This is not noise.

Fresh highs touched 2116.50, which isn”t substantial. Not being substantial, its reaction(s) dip more easily back under prior highs. But it”s only noise, so long as 2112.50 isn”t probed, too.

This afternoon”s “no-bias” environment comes within view of lapsing 45 minutes from now. Probing under 2111.00 would be credible for sliding through the close — like yesterday, except no recovery. Meanwhile, extending higher would require duplicating the prior two sessions” pattern, which doesn”t happen often.