Mid-day Update… Don’t. Look. Down.

No-bias trending pushes higher.

This morning’s 2342 25 bias-up signal didn’t trigger at 10:15. It should define the window’s upper-end if tested during the no-bias environment. Probing above it is called “no-bias trending” and requires being retraced to at least 2342.25 — often back down to the 2339.75 10:15 print.

None of which has prevented this morning’s no-bias trending from extending higher. This afternoon’s 2351.75 bias-up signal has triggered, and its 2357.00 bias-up target is now less than 2 points higher.

There’s no particular timing to fulfilling the required retracement back to 2342.25. And now unfinished business above would be left outstanding at 2357.00. Unless 2357.00 were tested first.

There’s another influence lurking. I just described how this morning’s rally is premature for originating during a no-bias environment. It’s also premature since yesterday’s rally had gained no traction for its effort. So, rallying before late-afternoon is vulnerable to retracing back through its origin.

Rallying in spite of bearish influences may be weak-handed sponsorship, and creating pent-up selling pressure. But meanwhile the bias-up is in-play. And not reacting down to its 2357.00 target could extend even higher.