Mid-day Update… Highwire act.

Hovering just under this morning’s highs.

Surging at the open, and after its reaction, had extended up to 2863.75 soon after the first hour. An errant tick above the 2861.75 bias-up target was the high, and pushed price back down to 2858.00 as the bias environment began lapsing.

That range has defined price action since then. The half-hour leading into the noon hour, the noon hour, and now potentially the afternoon bias environment. No trending, just ranging.

Even the most bullish scenario doesn’t require extending up today, or prevent a deeper pullback. Back under 2859.50 would suggest a deeper pullback underway. Meanwhile, extending higher would be difficult during the no-bias environment, whose 2863.25 has held its test.