Mid-day Update… Getting one-sided.

Duplicate setup suggests bigger move forming.

This morning’s post-open rally extended to test Friday afternoon’s 2634.25 bias-environment high. RSIs diverged negatively on a retest of 2634.25. The tests’ 2630.50 interim low was never pierced before the rally resumed.

That’s one.

The noon hour extended the rally to attack 2646.00. RSIs diverged negatively again on its retest. The tests’ 2641.00 interim low was never pierced before the rally resumed.

That’s two.

And that’s borderline overkill. Negative divergence is not an actionable sell signal. It can inform a sell signal, suggesting it is more reliable if triggered. Two negative divergences can be that much more bearish, making a sell signal that much likelier to produce a substantial reversal. If triggered.

Meanwhile, maybe a much stronger uptrending undercurrent is causing the negative divergences to be ignored. It’s rare, but a third negative divergence would likely extend the rally sharply. This afternoon’s bias-up signal triggered, putting into play 2653.50. It’s likely to be tested, and possibly exceeded, so long as 2644.00 isn’t broken as support.