Mid-day Update… Dueling headlines.

Knee-jerk reactions exploiting noon hour noise.

Piercing the 2352.50 bias-up target immediately reacted down to eventually test 2348.50. Anything lower would have qualified as a lower low, the first since the open, if not also since the overnight low. A buy signal above 2351.00 was soon tested.

None of which prevented a negative knee-jerk reaction to a headline, plunging more than 7 points to 2343.50. But a timely reversal before noon would have been more credible. Reacting to a headline is weak-handed. And originating during the noon hour is vulnerable to being only noise.

In fact, a surge attacked 2350.00 several minutes later. Its catalyst was also a headline, and it also originated during the noon hour. So, extending the bounce into a recovery isn’t assured. But triggering either bias is likely to extend. And triggering no-bias could still range choppily.