Mid-day Update… Gravity still sucks.

Unable to bounce off of morning lows.

Probing under this morning’s 2085.00 bias-down target wasn’t recovered in time to avoid renewing the bias-down signal. That essentially put into play the 2076.00 renewed bias-down target.

2076.00 was attacked, tested, retested and probed. It is still being tested as the afternoon bias environment is entered.

Avoiding lower lows is unlikely, despite this afternoon now being a no-bias environment. Whether it’s 2073.50 bias-down signal, or down to 2071.00, fresh lows would make a later recovery effort above 2080.00 more credible.

The risk in probing lower is in not recovering. The pattern’s structure requires recovering from a fresh low to form a durable bottom. But that’s also how a new downleg gets underway if not recovered.