Mid-day Update… Backing-and-filling anyway.

Noon hour probes under open’s low.

Reacting down from the open’s 2671.75 high had met its 2662.75 objective. And bounced. But the bounce never probed higher, while lower and lower lows have probed fresh post-open lows down to 2652.50.

Backing-and-filling through the morning was likely, and unlikely to damage the recovery’s chart. Having held a test of the afternoon’s 2655.25 bias-down signal, a lower low could now damage the recovery’s chart. Meanwhile, the no-bias window has room up to its 2668.25 bias-up signal before signaling the recovery has resumed.

A recovery could still resume from a deeper pullback. Fresh lows still have room down to 2646.00 and 2639.50 before signaling the recovery failed, and that the decline is resuming.