Mid-day Update… Digging in.

Unfinished business above.

A funny thing happened on the way to fulfilling this morning’s 2848.75 bias objective. The noon hour was entered by a surge to 2846.50 when a NAFTA headline triggered a quick reaction down under 2842.00. The reversal’s potential down to 2836.50 was fulfilled to within 1 tick.

The morning’s bias objective was formed by barely avoiding a bias-down. Now the afternoon’s 2840.00 bias-down signal has narrowly avoided triggering. Price action has been fluctuating 2 points around either way. Back above 2841.00 should launch a retest of the highs, and presumably also fulfill 2848.75.

Otherwise, extending down would be “no-bias trending” that requires being retraced. But extending down could test 2829.50 before basing, and potentially test 2818.00. Regardless, the rally is has become entrenched enough that any downside should be only temporary.