Mid-day Update… Holding up, not breaking out.

Hovering at pre-open highs.

This morning’s bias-up environment was triggered after having tested its 2466.75 bias-up target. Reacting down only attacked its 2461.00 bias-up signal by 10:30. It was probed under 2459.00 — twice. But it was too late to trend down, since the bias-up signal must define the bias-up environment’s lower-end. So, 2461.00 was recovered while the bias environment lapsed.

And the recovery extended through the noon hour, attacking the morning’s highs. But this afternoon’s bias parameter triggered noN-bias. The 2465.50 bias-up signal was still being overlapped at both 1:20 AND 1:30. This is not a bias-up environment with a bias-up target in-play, or a no-bias environment required to hold the bias-up signal.

Having said that, noN-bias environments often behave like no-bias and hold the bias signal. More so, hovering at the bias signal often breaks through it when the bias environment begins lapsing. But dipping back under 2463.50 would start to signal a retest of this morning’s lows underway.