Mid-day Update… Digging a deeper hole.

Retesting this morning’s low.

The gap down at 2131.00 and slide to 2123.25 was retraced entirely during the morning’s bias environment. The 2132.75 bias-down signal was attacked to within 1 tick where its resistance produced a reaction back down to 2125.50.

The noon hour bounced again, to within 3 ticks of 2132.75. Resistance pushed back again. This afternoon’s 2124.25 bias-down signal didn’t trigger, but it is being tested anyway down to 2123.00.

Being a no-bias environment, its 2124.25 bias-down signal should define the range’s lower-end. And, so far, it is. No bar probing a fresh low under 2124.25 isn’t also overlapping 2124.25. And its test has reacted up to 2127.25.

The bias environment will come within view of lapsing at 2:15-2:20. Breaking under 2124.25 would then be entirely credible for resuming the drop. The leg underway Wednesday afternoon would be confirmed under 2121.25, still targeting 2095.00. The alternative to breaking lower today isn’t necessarily to rally, but at least firming back toward today’s high.