Mid-day Update… Another kind of defense.

But now, the rally is defending a gain.

[SEE A SPECIAL MESSAGE AT THE END] The steep, deep reversal of the open’s surge was proved to be an anomaly. Plunging 13 points in 30 minutes from 2097.25 to 2084.25 never even attacked negative territory. And the bias-up signal still triggered, albeit late.

The noon hour’s flat-to-higher ranging held a test of the afternoon’s 2093.50 bias-up signal. This being a no-bias environment, the range’s lower-end should be defined by its 2086.00 bias-down signal if tested. A dip just attacked 2088.00. All of which is well into in positive territory.

The rally can resume when the no-bias environment begins lapsing. It’s not required. But, just attempting to rally when 2:30 comes into view — probing 2093.50 or higher — would be increasingly likely to extend to fresh highs through the close.

Otherwise, testing 2086.00-2088.00 into the bias environment exit would still be unlikely to trend down. But its rally effort would likely be limited to retesting the 2093.50 bias-up signal.

SPECIAL NOTE: TODAY’S POST-MARKET WRAP WILL BEGIN AT 3:30, AND I WILL BE UNAVAILABLE DURING THE SESSION’S FINAL 15 MINUTES.