Hunkered down. And down. And down.

Pessimism took a breather.

This morning”s dive to 2084.50 held two tests — one during an irrelevant timing window, and the other by an errant tick that reacted up immediately on its way to 2096.50.

Not for lack of trying, but the bias environment exit was back under its 2093.50 bias-down signal. Recovering it into the noon hour would have sealed a bottom and reversed up through the afternoon. But dipping into the noon hour”s entry tested 2088.50.

Sellers didn”t regain control. But buyers have been rewarded for absorbing this morning”s dips under 2086.50. Back under the 2088.00 area (being tested  now) would start to signal a probe underway of fresh lows. And not isolating it to the noon hour would again risk extending down sharply.

Meanwhile, having failed a timely recovery above 2093.50, exiting the bias environment above 2093.50 would still be bullish, but above 2098.00-2099.00 would deserve more confidence.