Mid-day Update… And back again.

Range’s lower-end should hold.

Many usual participants aren’t available today due to the Jewish holidays. So, breaking beyond a relevant support or resistance is difficult. Fluctuating between them is easier, although none is required to be tested.

The noon hour low did test Thursday’s close around 2147.50. RSIs diverged positively on its retest, and the reaction has bounced as high as 2152.25. That still didn’t trigger this afternoon’s 2154.25 bias-up signal, but neither did it trigger the 2147.50 bias-down.

So although bouncing any higher isn’t required, it’s natural. And 2154.25 can be tested or probed while waiting for the bias environment to lapse. Then, limited participation or not, probing higher would be credible for gaining traction.

Similarly, exiting the bias environment by probing under 2147.50 could extend. There would still be sponsorship problem, but something more substantial might be underway to have inhibited a bigger bounce.