Mid-day Update…

PROGRAMMING NOTE: Today’s post-market Wrap will be held a half-hour early, beginning at 3:33pm ET.

This morning’s rally had extended through its 2264.00 bias-up target to attack 2268.00. Failing to hold the 2265.50 pullback limit prevented extending to the next higher objective at 2270.00. Instead, a pullback into the noon hour has twice tested this afternoon’s 2260.25 bias-down signal.

And the signal’s support held. It’s being retested now.

Recovering 2264.00 would start to target a retest of this morning’s high. Extending to 2270.00 need not be delayed by the 2267.00 bias-up signal defining the window’s upper-end.

Back under 2261.25 (being tested now) could launch “no-bias trending,” probing under the 2060.25 bias-down signal despite this being a no-bias environment. Its recovery would be required, but meanwhile there would be room down to the 2254.25 bias-down target.