Mid-day Update… Fear of heights. Again.

REMINDER: I’M AWAY FROM THE SCREENS FOR THE FINAL HOUR… MARKET WRAP IS HELD ONE HOUR EARLY.

The open’s inability to trend one way or the other did hold tests of the 2789.75 bias-up signal. And eventually extending higher tested and held this morning’s 2797.50 bias-up target. Its first reaction down back to the 2791.50 open corrected into the noon hour. Another reaction down is attacking overnight lows down to 2788.50.

And there’s still no bullish reason to retest 2788.00, unless its test were rejected abruptly.

Meanwhile, this probe down to 2788.50 comes during the afternoon’s no-bias environment, under its 2790.75 bias-down signal, which is “no-bias trending.” It should be retraced into or after the bias environment begins lapsing. The 1:20 print at 2793.50 might be tested, too.

A bounce is now probing back above 2790.75 but must hold it through the bias environment starting to lapse, or else recover it again. Neither setup would dictate the ultimate resolution, whether to recover session highs, or else to reverse the trend down sharply.