Mid-day Update… Holding on, for a late re-try?

Morning’s dip recovers only positive territory.

Narrow sideways ranging between 2267.50-2270.50 persisted into the noon hour. The bottom suddenly dropped out several minutes later. Two downlegs tested 2263.00 and 2260.00. Which held coming out of the noon hour.

The 2266.00 bias-down signal was being tested at both 1:20 and 1:30 to invoke the grace period. The 2260.75 bias-down target had been tested, before bouncing back up to 2266.00 — which was still being tested at both 1:20 and 1:30.

This is a noN-bias environment. Extending above 2268.00 would signal the rally was resuming, targeting fresh highs. Under 2263.25 would start to suggest drifting down into the weekend, targeting yesterday’s lows and then lower.