Mid-day Update… Been here, downed that.

Back to ranging at the lows.

The open didn’t gap up above any relevant level (or gap up at all) to even try negating the traction sellers gained yesterday. Lower lows were likely. None of which prevented surging at the open, but only to touch the 2907.50 bias-up signal — and then not to trigger it.

That put into play an offsetting test of the 2898.25 bias-down signal. The open had been greeted there. So, a test of it was in-play, but not testing it wouldn’t be required. It was tested anyway, as the bias window lapsed.

Extending lower during the noon hour tested unfinished business at 2892.25. Piercing it by 2 ticks was enough to launch a reaction attacking 2898.00, and to avoid triggering bias-down.

Sellers are probably done for the day. Buyers may be done, too, although there’s room up to the 2899.00 bias-up signal and then higher after the bias window starts lapsing. But even if thee’s a bounce back under 2893.75 would start to signal lower lows into the weekend, next targeting 2884.50 down to 2880.25.