Mid-day Update… Anti-gravity sucks, too.

TODAY’S MARKET WRAP WILL BE HELD ONE HOUR EARLY AT 3:03 PM ET, AND I WILL BE AWAY FROM THE SCREENS THROUGH THE SESSION’S LAST HOUR.

The noon hour had tested this afternoon’s 2002.50 bias-up signal, but it wasn’t triggered. That hasn’t prevented probing above it to 2007.50 in what is called “no-bias trending.” The last time we saw that was way, way back this morning.

No bias-trending requires retracing at least to the bias signal that should have defined the no-bias range. This morning’s is 1993.75, and it still requires retest. Meanwhile, 2992.50 is being tested as the bias environment lapse comes within view.

The noon hour’s pattern suggests a fresh session high would print. It also suggests the higher would be vulnerable to reversing down. Exiting the bias environment under prior highs would be bearish.

Otherwise, not reversing down obviously by the time the final hour begins, would remain vulnerable to extending higher into the close.