Mid-day Update… Get out the vote.

Another final final stage approaching as House vote nears.

Simply for having returned down to 2692.50, a test of 2688.00 was likely. That was regardless of peaking 1 tick short of touching this morning’s 2697.75 bias-up signal, which would have put into play a test of 2688.75.

2688.00 was the morning bias environment’s low. Exiting the bias environment back above 2692.50 would have indicated the pullback had ended. But a buy signal at 2691.25 was only touched and not triggered, as new lows into the noon hour tested 2685.50.

2685.25 is this afternoon’s bias-down signal. Testing it to within 1 tick or piercing it first isn’t as relevant as the morning’s similar attack on its bias-up signal. Afternoon bias setups don’t include the consequence of an offsetting test. But it still defines the bias environment’s extreme. And its reaction is testing and retesting 2690.00.

Back above 2691.25 would still signal momentum reversing up. Back under 2687.00 would make fresh lows likely, potentially to 2682.50, but likely to recover if probed during the no-bias environment. And recovering might need that — for the rubber band to be stretched down so it can snap back up — since bouncing out of the noon hour’s low hasn’t yet reversed the trend up.