Mid-day Update… Downright slumber.

Lower lows still not trending down.

When this morning’s bias environment began lapsing, its relatively narrow 2892.00-2897.00 range broke lower. Sharply. Suddenly and steeply, but not substantially. Just 2-3 minutes of plunging to 2885.25 ended it. Oversold RSIs at the low require its eventual retest.

Recovering up to 2892.00 through the noon hour has resolved down, too. Just not substantially, only attacking the low to within 5 ticks, leaving its oversold RSIs outstanding.

Ratcheting lower and lower could be considered trending, if not contained within a prior window. Like this moring’s drop, which has only retraced to yesterday’s last 60-90 minute low. Not quickly rejecting its retest could replace 2902.00‘s attraction above with a collapse below. Meanwhile, exiting the bias environment rallying above 2892.00 would be credible for extending back to and through session highs.