Mid-day Update… Another rumor?

Stuck at unchanged without new news.

If not for the pre-open news, would this morning have only extended the narrow overnight range? Its plunge was recovered entirely back into the overnight range. And then momentarily higher to 2496.25.

But returning to positive territory and reversing into positive territory seem to be two different things. Sideways ranging resumed before the morning’s bias environment began lapsing. It extended through the noon hour, and now in to the afternoon bias environment.

Will more trending today require another missile rumor? An actual launch? Regardless, extending higher is difficult with this morning’s missile threat hanging over the market’s head.

Retesting the 2489.00 post-open low would likely also test the 2487.50 pre-open low. Testing either would be the last opportunity to break lower. In other words, holding a retest of this morning’s lows would form a base to resume the rally.

Otherwise, narrow ranging or a shallow dip may define the balance of the session. Neither of which would offer a signal.