Mid-day Update… Only eking higher.

Higher and higher highs, but lacking velocity.

The morning’s high touched its 2155.50 bias-up signal. Being a no-bias environment, it was required to define the range’s upper-end. Coming after 10:30, nothing was required of Its reaction. And it did nothing, holding 2151.25 as support.

Similarly, the afternoon bias environment 2156.25 bias-up signal has been touched. Nothing is required of its reaction, either. But back under 2153.00 and 2151.00 would be likely to attack or test 2148.00. Below there would still target yesterday’s 2141.50 low.

The downleg signaled at Monday’s open is a little off-track. Probing lower this morning and then recovering this afternoon was likely. Not probing lower this morning doesn’t prevent this afternoon from rallying anyway, it’s just less likely.