Mid-day Update… More to come?

Plunge’s retracement hasn’t actually reversed.

Reversing more substantially than the overnight false break did get to this morning’s 2595.00 bias-up signal. It was probed during the bias environment, but ultimately touched one last time as the bias environment came within view of lapsing. Extending higher into the noon hour attacked 2620.00 to within 2-3 ticks.

That was the minimum objective for extending any higher. It neutralized the overbought RSIs at yesterday’s high. And this afternoon’s 2620.00 bias-up target is essentially met to prevent creating “unfinished business above.”

There’s no requirement for the balance of the session to trend either way. But unless 2620.00 is exceeded — and preferably soon — then the pattern remains vulnerable to retracing much of all of this morning’s recovery.