Mid-day Update… Holding up.

No bearish influence, as prior highs attract price up.

Globex-flip did not influence this morning’s bias environment. The open didn’t gap up above 2788.00, and yesterday’s 2784.50 trigger wasn’t recovered through the open. Either of these would have told us Globex-flip’s influence had lapsed. Neither signal formed, but its influence lapsed anyway.

Meanwhile, the bias environment extended the overnight rally up to 2793.50, and then another point higher into noon. Pulling back to 2787.00 through the noon hour avoided touching the 2785.25 bias-down signal. It can still be tested during the no-bias environment.

Be aware of a couple of normal Friday afternoon behaviors. First, sponsorship for trending and especially for countertrending is difficult to generate. Second, exiting the bias environment under the noon hour’s high or a rally day is difficult to resume the rally. None of which requires reversing down, but that becomes the easier path.

Meanwhile, maintaining a break back above 2790.75 before the bias environment lapses could resume the rally. And the market is back in the orbit of Wednesday night’s 2798.00 “new Globex trend extreme,” which would be its likely attraction.