Mid-day Update… Done, or down.

If sellers aren’t finished, then they’re just getting started.

This morning’s reversal of its post-o0pen relief rally has extended down to 2642.50. That tests the afternoon bias-down target by 2 ticks. The 2650.50 bias-down signal held through its grace period to trigger late no-bias.

But it’s still being tested. And this is a Friday. A late bias signal is already less reliable. Extending to fresh lows would likely target 2626.00. Which already held a test yesterday, so there’s no bullish reason to be revisiting it.

Extending lower probably requires participants to become impatient with not bouncing again into the close. Back above 2662.00 would start to signal that bounce underway. Until then — whether during or after this afternoon’s no-bias environment lapses — the pattern remains vulnerable to extending down.