Mid-day Update… The final hour may answer all.

Holding up, but not extending.

This morning’s gap up at the 2473.75 bias-up signal wasn’t extended. Its collapse triggered no-bias, putting into play an offsetting test of the 2465.50 bias-down signal. It was pierced by an errant tick at the morning’s low.

Rallying from there through the noon hour touched this afternoon’s 2471.75 bias-up signal. It held, triggering another no-bias environment. Being the afternoon, an offsetting test of the 2366.25 bias-down signal is not required. But it would be the likely objective of a downdraft.

Meanwhile, the bias-up signal should define the afternoon bias window’s upper-end. Probing it later would be free to resume the overnight rally, and extend to new highs — all but invalidating the Head & Shoulders pattern.

Otherwise, dipping back to the morning’s lows could break lower into the close. The Head & Shoulders pattern would be very much in-play, still awaiting more confirmation at lower levels.