Mid-day Update… Here comes the next cat.

Bias objective met. Seasonal objective in-play.

With two path higher, the market took the one more difficult. Testing this morning’s 2084.50 bias-down signal by 3 points, and invoking the grace period, ultimately held. Its offsetting test of the 2090.00 bias-up signal was met before the bias environment began lapsing. It has been probed by 5 ticks.

Historically, trending tends to persist into the post-Thanksgiving close. Not aggressively, but simply gravitating in its prevailing direction. So, there is potential for extending the recovery through 2091.00 to 2094.00 or higher.

But extending higher isn’t required. Reacting back down isn’t likely, but it’s possible. I’ll continue tracking pullback limits in the chaRTroom. There is no afternoon bias parameter to apply today.