Mid-day Update… Creating distance.

Extended drop is countering yesterday’s rally.

Triggering this morning’s 2389.25 bias-down signal targeted 2384.25. It was tested down to 2382.50 as the bias environment began lapsing. So, the bias environment did not begin lapsing back above 2387.25-2388.25, which would have isolated the drop as being weak-handed.

No matter. Recovering the morning’s 2389.25 bias-down signal by noon would have isolated the drop, too. Nope. Bouncing into noon only attacked 2387.25, more than 2 points too low.

Each timing window that fails to recover a relevant level must recover a higher relevant level to signal stronger hands are buying. To signal strong hands are buying, and also that no lower objectives won’t be met.

The next lower objectives are “lower prior highs” at 2375.00, and the prior upside objective at 2372.25-2373.75. Deeper dips might still be avoidable by recovering the 2390.00 bias-up signal at the bias environment exit.