Mid-day Update… Don’t. Look. Down.

Still rallying.

Breaking higher into the noon hour probed above the morning’s 2794.25 high to attack 2798.00. RSIs diverged negatively while overlapping the afternoon’s 2797.00 bias-up signal. Would have triggered cleanly? We don’t know, because a knee-jerk reaction to a China trade war headline triggered a quick reaction down attacking 2792.00.

The bias-up signal was recovered in time to invoke the grace period. Actually, it was already probed up to 2800.50, and a reaction down touched 2797.00 at 1:20. There was plenty of time to trigger cleanly.

Bias-up ultimately triggered, but it has yet to produce any fresh high. Which makes it more easily rejected, by exiting the bias environment back under its 2790.00 bias-up signal. Otherwise, its 2804.00 bias-up target becomes “unfinished business above.”

Back under 2796.00 (being being tested now) would start to signal momentum reversing down. Back above 2799.75 would signal the rally has resumed).