Mid-day Update… Dug in, or done digging?

Probe of fresh lows snaps back into the range.

This morning’s noN-bias environment had no attraction in-play, either above or below. So, recovering yesterday afternoon’s slide was unlikely, but a rally attempt would still be likely to probe above the 2672.00 overnight high. The overnight high was probed by 2 points, but only momentarily before reversing back above yesterday’s lows.

And lower. Gradually at first, and then suddenly blipping-down to 2657.25. Down, and back up above yesterday’s lows, again. Not triggering the 2662.00 bias-down signal has improved to touched 2666.00.

Obviously, the President’s impending JCPOA announcement is a culprit. Dueling headlines have thoroughly confused the market between leaks, fake news and press releases. The actual knee-jerk reaction may have room to run.

Overnight, morning and now noon hour probes under yesterday’s low aren’t extending down. But until their reactions are actually reversed up, the probes are chipping away at support. And having probed fresh session lows during the noon hour, this afternoon is likely either to rally, or likelier to etxend the decline.