Mid-day Update… All back to normal. Right?

Opening surge largely retraced.

Few weeks have the action offered already by today’s post-open range. Rallying 33 points off of the 2031.50 opening print. Reversing down 29 points through the noon hour’s exit.

Things can get noisy with ranges a small fraction of this size.

This afternoon’s 2040.75 bias-down signal was last touched 5 minutes before 1:20, triggering bias-down. It was soon probed up to 2045.25, but that reacted down to 2039.50. This is a bias-down environment.

A bigger corrective bounce to 2049.00 can’t be discounted. But neither can a last-hour decline that probes last night’s lows down to 1993.50. Only exiting this afternoon’s bias environment above the noon hour’s 2050.00 high would make a rally leg likely.