Mid-day Update… Getting ready to rumble.

Morning’s dip recovered, but not reversed.

This morning’s 1885.75 bias-down target was met easily this morning, but not until the first hour had lapsed. A knee-jerk reaction to the Dallas Fed survey got out of the way, and fresh lows were soon probed down to 1881.75.

Recovering into and out of the noon hour up to 1895.50 failed to trigger the 1893.75 bias-up signal. Consolidating there formed a Head & Shoulders that is now breaking lower aggressively to 1887.50.

Back above 1891.50 would signal the dip had been absorbed and reversed, probably to probe above the 1904.00 overnight high. Failing to hold 1986.25 as support would suggest a retest underway of this morning’s lows.