Mid-day Update… Backed-and-filled.

Post-open gains retraced.

The gap up to 2933.75 happens also to be this afternoon’s calculation for a bias-down signal. It was tested during the noon hour down to 2931.25, but held to trigger “late no-bias.”

Momentum reversed down thanks to a correction triggered under 2938.75 and targeting the 2934.00 area. Its target was fulfilled by a 5-point spike down to 2932.00.

An inflection point at 2934.50 is now being tested to try reversing momentum back up. Its test is including a reaction back down to attack 2932.00.

The 2931.25 low can be retested by several ticks, and then down to 2928.00-2929.00. Any lower would start to suggest something more substantial than just a normal correction on the way back up to new highs.