Mid-day Update… Getting unstuck.

Still fluctuating in negative territory.

This morning’s bias-down bounce extended to 2426.00 before peaking, almost 4 points above the bias-down signal. Reversing down into and through the noon hour retested 2418.00 support, still off the morning’s 2416.75 low and its 2415.50 bias-down target.

the noon hour’s exit bounced 4 points into the afternoon bias environment’s entry. That’s 2422.25 again. But this afternoon’s bias-down signal is 2420.00. And it didn’t trigger. So, the market is stuck between several rocks above and several hard places below.

The most bearish scenario would remain proximate to the 2420.00 bias-down signal, then break lower when the bias environment begins lapsing. At least a retest of Friday’s 2412.50 low would be in-play, potentially down to 2496.00.

The most bullish scenario would ignore this afternoon’s 2420.00 bias-down signal, which should define the bias environment’s lower-end. Probing under it anyway would be “no-bias trending” that requires being recovered. Probing under it deeply enough to fulfill “unfinished business below” at this morning’s 2415.50 bias-down target would neutralize its attraction. The recovery requirement would do the rest.

An alternative bullish scenario would exit the bias environment rallying back above 2425.00 and higher. At least exit the bias environment above 2423.75, preferably above 2427.25. The recovery template loses that scenario if 2418.00 is retested as support.