Mid-day Update… Any more takers?

Lowest calculable objective met, held, already well rewarded.

Ultimately, this morning resolved down. Great effort was expended pre-open and post-open to avoid triggering sell signal or to recover from them. But the ongoing series of lower lows and lower highs triggered late bias-down.

The 1990.25 bias-down target was met, as was the lowest calculable objective of 1983.50. In fact, the latter held and reacted up sharply, currently testing 2001.25.

Yet, the series of lower lows and lower highs remains intact. Trend reversals must recover not just one but two prior extremes. And this one is still only touching its second at 2001.25.

It’s the noon hour, which inherently makes the bounce suspicious. And it is struggling at the natural resistance of retracing 61.8% back to the open’s highs.

Triggering the 2002.50 bias-up signal in an hour would launch an entirely credible recovery attempt. Resuming the decline could find sellers very well refueled.