Mid-day Update… Held up, and held back.

Hovering at post-open highs.

The Employment Situation report’s spike up to 2893.50 didn’t require a retest. But the post-open pullback to 2886.75 was absorbed and reversed up to fresh highs.

The 2892.00 bias-up target was exceeded through 10:15 to renew the bias-up signal, next targeting 2902.00. Renewed signals aren’t required to meet their target unless confirmed through the close. But already probing above the pre-10:15 high up to 2896.50 makes that likely.

None of which seems obvious from the narrow range that has developed. Narrow ranging isn’t unusual for a Friday, being one of the many Friday Factors that are a function of the impending weekend’s illiquidity.

Regardless of the 2902.00 target’s likelihood, a reaction down would be credible for extending. But this being a Friday and probing fresh highs, not yet reversing down as the bias environment lapses would remain more vulnerable to extending higher.