Mid-day Update… Chopping lower.

Entering the afternoon at fresh lows.

Despite rallying up to 2748.25 through the open, both the 2742.25 and 2735.50 bias-up parameters were rejected. Tests of both the 2718.00 and 2711.00 bias-down parameters were put into play. Both were tested, and then some.

2705.00 had been attacked when the morning bias environment started lapsing. A choppy noon hour has resolved down, and the afternoon bias environment’s entry had already attacked its 2698.00 bias-down target. Nevertheless, its 2706.25 bias-down signal wasn’t cleanly triggered, so this is a noN-bias environment.

This is not a no-bias, requiring its bias-down signal to define the window’s lower-end. And this is not a bias-down, requiring its target to be met (although it’s being probed now down to 2692.75).

Exiting the bias environment back above 2698.00 would start to suggest that sellers are done for the day. Meanwhile, there is still an attraction below at 2685.00-2686.00.