Mid-day Update… Caged tiger.

Wide swings persist.

This morning’s 2062.75 bias-down target is “unfinished business below.” Exiting the bias environment above its 2068.00 bias-down signal could have invalidated the signal. But despite probing it by 4 points, the bias environment’s exit was probing under 2068.00.

An even larger rally is possible, regardless of the attraction below. It’s just less likely, and unlikely to extend. But that’s no reason to short strength.

Regardless, the open’s wide swings persisted through the morning, and still imply the same expectation: That finally neutralizing the attraction below will produce a substantial rally.