Mid-day Update… More errands!

Dry cleaners morning seems to contagious.

This morning’s bias environment suddenly plunged from 2125.25 and tested 2120.00 several minutes later. That ended quickly, as the balance of the window firmed back up to 2125.25.

Then an interesting thing happened: The bias environment began lapsing by surging to fresh post-open highs. That ended quickly, too, retesting the morning’s “lower prior highs.”

Interesting. Productive sponsorship between timing windows is rarely overwhelmed. So, surging to fresh highs as the bias environment began lapsing should have extended. But it did not. Even knowing the likely resolution is down, and that fresh lows must precede any credible rally — something interesting was attempted.

I’ll have to dismiss it for now. Its inflection point was validated by immediately extending at least 5 ticks. But its 3-minute high never improved. And now another timing window’s entry has signaled a reversal down.

So, the noon hour’s probe down to 2123.50 is being retested by 1 point as the afternoon’s bias environment begins. It’s triggering “no-bias” without either bias signal having been tested. Trending out of the bias environment lapsing would be credible again. That late would be difficult for a rally today to reverse back down today, but no rally should be durable without first probing under Friday’s lows.