Mid-day Update… Found them, yet?

Pause in decline might be a bottom. But only if…

The open’s collapse from 2777.00 to 2754.00 had not bounced until the bias environment was entered. It measured 8 points up to 2762.00. And then it collapsed. Fresh lows at 2733.50 produced a second bounce as the bias environment lapsed. It measured twice, gaining 16 points into the noon hour’s 2749.00 high.

The second bounce is now also failed, retracing its origin and probing fresh session lows by 1 point.

But it’s too late to trigger bias-down. Probing under this afternoon’s 2736.25 bias-down signal during the no-bias environment is called “no-bias trending” and will require eventually being retraced to the 2736.25 signal, regardless of the interim or ultimate resolution.

In fact, its dip is already retraced, and reversing to attack this afternoon’s 2746.50 bias-up signal.

“No-bias trending” rules would apply in either direction, requiring being retraced. But not necessarily reversed. Resuming the decline is still possible, as is reversing it — especially when the bias environment starts lapsing at 2:30.