Mid-day Update… Clawing its way back.

Probing Monday’s highs. Again.

This morning’s 2493.00 bias-down signal triggered late, but retested its bias-down target anyway. Bias-down didn’t prevent a bias-down rally — probing above the bias-down signal during a bias-down environment. Monday’s ~2510.00 highs were retested up to 2512.00.

But a required retracement back to 2493.00 remained outstanding. The noon hour’s dip came within 6 ticks, which is close, but its test remains outstanding. Meanwhile, another rally leg has triggered this afternoon’s 2513.25 bias-up.

So, there are competing attractions. The afternoon’s 2521.25 bias-up target is more influential, more so than to actually test this morning’s 2493.00 bias-down signal. And fresh highs may yet extend higher to 2525.25, where we would consider whether a more substantial rally leg is underway.