Mid-day Update… You ask for a miracle?

Russia news stretches the rubber band.

Rallying through the morning entered the noon hour at the afternoon’s 2748.00 bias-up signal. Probing it during the noon hour attacked 2755.00, sufficiently fulfilling the 2753.00-2757.00 objective and not requiring its retest.

All of that before the bullish WedEX could begin influencing the afternoon. Tough act to follow.

Then came headlines of election meddling indictments, triggering a 25-point drop to 2730.00. It had become too late to trigger the 2732.50 bias-down signal (so, also too late to invert the bullish WedEX). The bias signal’s support coincided with additional statements that significantly undermined the decline’s catalyst. The resulting bounce is testing 2744.50.

It’s possible that the drop cleared the decks of potential selling pressure becoming pent-up during the earlier rally. This makes it easier for the afternoon to be influenced by the bullish WedEX. That said, it’s now the only upside catalyst, having fulfilled enough of the 2753-2757 objective and failing to trigger bias-up.