Mid-day Update… Held back, but holding up.

Still fluctuating around the open.

This morning’s likelier scenario was to fluctuate sideways, essentially within yesterday afternoon’s 2567.00-2571.00 range. The gap up’s reversal back into yesterday afternoon’s range had crept lower to gain traction that made its recovery unlikely.

Ultimately, the post-open dip was retraced back up to this morning’s 2574.25 bias-up signal. No higher, as a recovery this morning had become unlikely. But the dip into yesterday afternoon’s range was recovered, so the sideways ranging has developed around the 2573.00 opening print.

The afternoon’s bias environment has triggered no-bias. Meanwhile, buying pressure isn’t being expended, but is it being conserved for use when the bias environment lapses? Still hovering at session highs into the bias environment exit would be vulnerable to rallying through the close. Otherwise. breaking back under 2571.50 would open the door back into yesterday afternoon’s range and lower.