Mid-day Update… What comes around can keep coming around.

REMINDER: I WILL LIKELY BE AWAY FROM THE SCREENS LATER THIS AFTERNOON.

So, excessive optimism got another clobbering on its stiff upper-lip.

The next higher objective at 2187.00 was attacked to within 1 tick, by errant ticks, while RSIs became overbought simultaneously — in reaction to news. That can undermine the requirement to be retested, but it’s moot at the moment.

Another set of headlines triggered a reaction down to and through the morning’s 2170.25 low to 2160.75. Oversold RSIs during the noon hour can undermine its retest requirement, too. After drifting up to attack 2168.00, another dip only attacked this afternoon’s 2162.00 bias-down signal.

Tenuous conditions triggered this morning’s rally, and that had kept us vigilant for the potential of collapsing to new lows. The specifics may have changed, but the conditions remain tenuous. Recovering back above yesterday’s ~2168.00 lows wouldn’t necessarily reflect accumulation, but still drift back up into the close.

There’s otherwise no bullish reason to revisit the noon hour’s low. Neutralizing Its oversold RSIs would only risk focusing new sellers on the Friday Factors’ illiquidity.