Mid-day Update… Getting noisy.

Still in the range.

This morning’s bias environment pierced the open’s 2501.50 low by 1 tick in a noN-bias environment. No attraction above was in-play. But the opportunity to extend down was displaced by  an hour-long 4-1/2 point rally. The open’s 2505.00 print was overlapped by 3 ticks going into the noon hour.

Recovery? The open’s 2505.00 print was still being overlapped by 3 ticks well into the noon hour. And that reacted down into the afternoon bias environment.

All of which continues to develop within yesterday’s range. Not that yesterday’s range won’t be retested — hovering pessimistically short of yesterday’s 2506.00 high all but requires actually probing it. So, the question is whether its test will hold, and reverse price back down.

Back under 2503.25 would start to undermine there being a fresh high. That’s the “but” in “All but required.” That’s during the bias environment or coming out of it. Reversing down would be possible at any point today, although delaying a reversal down would make it less substantial.