Mid-day Update… Detour.

Filled gap holds post-open drop, launches its recovery.

A funny thing happened on the way down to 2377.25. The first time. That was after the open’s gap up had held a test of the 2385.75 bias-up signal, which put into play 2377.25. That dip filled the gap back to Friday’s close down to 2380.75, double-bottomed while RSIs diverged positively, and bounced.

A lot. All the way back up to the 2387.50 overnight high. And the pattern that developed there was all but ensured to probe higher.

Probing higher still is all but ensured. Even after the morning’s bounce up to 2387.50 collapsed down to 2381.25 in reaction to a headline. That was totally unexpected. Almost totally. After all, the ongoing headline risk is why even the likeliest resolution can only be “all but” ensured.

Anyway, being a knee-jerk reaction to a headline, the second dip’s weak-handed sponsorship invited buyers. An a bounce has recovered to attack the morning’s 2387.50 highs. Probing higher is all but ensured.

A test of this morning’s 2377.25 bias-down signal has become “unfinished business below.” Another break lower would likely extend down to the objective, no matter how weak-handed its sponsorship. Meanwhile, whatever enabled avoiding this morning’s objective seems intent on producing a bigger detour up, first.