Mid-day Update… Barely,

Advancing gradually.

Today’s gap up has extended. Fluctuating 2-3 points around the 2413.75 opening print broke higher when the bias environment began lapsing at 11:30. Testing 2424.00 into the noon hour then consolidated narrowly into the afternoon bias environment.

This afternoon’s 2423.00 bias-up signal triggered, barely, by a tick or two. It avoided triggering the grace period, barely, by a 1-minute 1-tick margin. And price soon probed higher, barely, attacking 2425.25 resistance and now fluctuating around the noon hour’s 2424.25 high.

Barely can be enough, and remaining in positive territory today is certainly a possibility. But sellers aren’t marginalized since the open didn’t gap up enough. We’re still monitoring for possibly repeating the recent pattern of intraday directional reversals. That’s difficult on a Friday, but it can be unstoppable if started.