Mid-day Update… Another spring.

Morning bounce collapses, almost. Recovers, almost.

This morning’s 2751.75 bias-down target recovered back up through the 2769.75 open to attack 2775.00. That’s 23 points, which its 20-point reaction down almost retraced entirely.

And now this afternoon’s 2773.00 bias-up signal is being probed by fresh session highs to attack 2777.00. But it’s too late to trigger bias-up, so its test is likely to define this window’s upper-end.

Probing the 2773.00 bias-up signal during the no-bias environment requires being retraced, if not also reversed back down. But not necessarily today. Dipping back to 2773.00 when the bias window starts lapsing could resolve in either direction — reversing back down, or resuming the rally. Back under 2769.25 would start to signal the resolution is down.

Resuming the rally is possible, because a multi-session Ascending Triangle is forming. A false break higher is possible, and would target the 2800.00 area or higher, while still being likely to resolve down to new lows. Full-blown recovery is still not being considered.