Mid-day Update… Dry cleaners day?

Range bound morning is bleeding into a range bound afternoon.

This morning’s no-bias environment was entered without touching either bias signal. Not maintaining the open’s surge had marginalized the upside. That didn’t necessarily default to requiring a drop, but it allowed room to test the 2365.50 bias-down signal as support.

The bias environment started lapsing at 2365.50. Its reaction had room up to 2370.00 before starting to signal a new upleg underway. That’s where the reaction’s bounce peaked.

Now this afternoon has triggered no-bias. Without first touching either bias environment. Again. The “dry cleaners morning” appears to have bled into a dry cleaners afternoon.

Actually, that constraint can resolve when the afternoon bias environment begins lapsing. A rally would become possible. Neither resolving nor rallying is required. And nothing in the pattern prohibits another drop that retests Thursday’s 2351.00 low.