Mid-day Update… A big bite at the apple

Another sell-off absorbed?

Holding a test of the 2362.75 bias-up signal had put into play an offsetting test of the 2354.25 bias-down signal. Fulfilling it had no particular timing, and could have taken longer than yesterday’s morning’s 2366.00 objective that was met pre-open.

But a dive to 2353.00 fulfilled the objective during this morning’s bias environment, and held it. It was only overlapped, and its RSIs made higher lows or diverged positively, so no lower objective was put into play. Testing this morning’s 2348.25 bias-down target was only potential, and still is.

Now a bounce has tested this afternoon’s 2362.00 bias-up signal to 2363.50. The signal held, triggering another no-bias. A drift or drop could test the 2353.50 bias down signal, and lower after the bias environment lapses.

Not yet resuming the decline coming out of the bias environment would be likelier to retest today’s high. Another attempt to sell-off wouldn’t have as much potential for holding and recovering.