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Mid-day Update… Once more, for a gapper. – If, Then… Market Timing

Mid-day Update… Once more, for a gapper.

Still holding support despite leaving unfinished business above.

This morning’s 2626.00 bias-down signal withstood 3-4 tests as support. They all held, especially through relevant windows. An offsetting test of its 2635.50 bias-up signal was put into play.

And it remains in-play, as the range persists. A noon hour dip from 2633.75 touched 2626.00 again, and held again. Now a break higher is testing 2632.00. Although this is a no-bias environment, there’s room to fluctuate up to its bias-up signal. Which happens also to be “unfinished business above” at 2635.50.

Back under 2628.00 would start to signal another downdraft underway. And this late in the day, another downdraft would be likelier to probe fresh session lows  — albeit only temporarily before recovering. Otherwise, fulfilling the upside attraction would become vulnerable to a downdraft, too.