Mid-day Update… Holding up. Holding back?

Consolidating at unchanged.

The post-open bounce stopped 4 ticks short of fulfilling its offsetting test of the 2440.00 bias-up signal. That was before even triggering no-bias. And it was 2 points above Friday’s close… briefly.

The balance of the bias environment drifted back down to 2434.75. Surging into the noon hour momentarily pierced unchanged above 2437.50. But that is a very suspicious window to express sentiment, and it has not extended. In more than an hour since then.

The noon hour’s exit pierced above 2437.50 again. Despite not rejecting unchanged, another relevant window has avoided probing higher. The vulnerability to launching into a downleg is increasing significantly. This morning’s unfinished business above at 2440.00 may be inhibiting that. A fresh high that reverses back down would be bearish.