Mid-day Update… Dead head-fake?

Shallow range at the highs.

Sunday’s 2177.75 Globex trend extreme was touched during the noon hour, along with this afternoon’s 2178.00 bias-up signal. Both held.

The trend extreme is likely to be tested more substantially than by piercing it only by 1 tick. Probing above it, and above the bias-up signal during a no-bias environment, would be vulnerable to reversing back down.

Vulnerable to reversing back down, but that reversal must be obvious as the afternoon bias environment begins lapsing at 2:30. NEVER underestimate the prevailing trend’s persistence of Friday trending, especially when counter-trending isn’t already taking control during the afternoon.

But exiting the bias environment back under the 2174..25 area could melt down into the close. Trending is difficult to reverse on Friday afternoons. Counter-trending is difficult to stop then, too.