Go big, or go down.

Noon hour entered around the open. Big recovery requires big buying.

This morning”s drop had probed back above the 2063.50 opening print by 5 points. The reaction down held 1061.00, entering the noon hour overlapping 2063.50.

Despite its overlap including this morning”s 2065.00 bias-down target, that”s not high enough early enough to suggest sellers have been trapped, let alone that buyers are retaking control.

Back above 2067.00 would start getting that benefit of the doubt. That”s largely because the decline is free to resume, and there”s no requirement for any bounce at this stage. Even then, this being the noon hour, bouncing any higher must be maintained to be relevant.