Mid-day Update… Extra fallout.

Renewed bias-down target met.

Selling had resumed at noon and plunged through the 2461.50 afternoon bias-down signal to its 2455.50 bias-down target. And lower, through the afternoon’s 2448.00 renewed bias-down target to 2445.50. All before the bias timing window even triggered.

In fact, that was greeted by a 6-point bounce to 2451.50. Still renewing the bias-down signal, but holding a test of the renewed bias-down target.

That bounce didn’t extend, which another dip is now attempting. The initial dip’s reward would have been 2455.50. Now its potential could be much more substantial.

Back under 2448.00 would instead signal the decline is resuming. And resuming the decline at this stage would put into play 2432.00 and 2419.50. So, not only containing the decline but also reversing its momentum back up could be the last defense against a very bad week.