Mid-day Update… and an announcement.

Market Wrap starts half-hour early at 3:33pm ET.

Also, I’m away from screens between 12:35 – 1:45 ET.

This morning’s 2061.50 bias-down target has held its test. But its test has not been rejected. The morning’s bias environment did react up to 2066.50, still 1 point short of the bounce preceding 2061.50.

But no higher. And no lower.

Exiting the bias environment in rally mode would have reversed momentum up. That didn’t happen, so entering the noon hour above the open’s 2068.00 highs would have made fresh highs likely. Didn’t happen either, so exiting  the noon hour above 2070.50 would be optimal for confirming the uptrend has resumed.

There’s otherwise no requirement to trend down — only the greater vulnerability so long as yesterday afternoon’s upside traction isn’t being influential.