Mid-day Update… Holding on for dear life.

The open’s range is holding.

Sliding 6 points through the open from 2161.50 was recovered to a fresh post-open high at 2163.00. That’s still 5 points short of the overnight high. But the balance of the morning only stair-stepped back down to the open’s low.

At least, toward the open’s low.

The open’s low is being avoided. Less and less so, with each dip. But still avoided. That’s optimism, which is potentially bearish from a contrarian perspective.

Back above 2160.00 would be credible for resuming the rally. The overnight high is a “new Globex trend extreme” which requires intraday retest, probably up to 2169.00. Testing it first would likely react down even more substantially than already.

But first probing fresh post-open lows — probably also testing 2153.00 — would likely launch a retest of the overnight highs by a wider margin.