Mid-day Update… Holding up, not held down.

Post-open dip reverses to fresh session highs.

This morning’s no-bias environment tested and retested its 2925.25 bias-down signal, but only after 10:15 when it was too late to trigger. Probing it after 10:30 was “no-bias trending” that required being retraced.

And it was. A surge recovered the open’s 2930.75 high, and ranged around it until the no-bias environment had begun lapsing. Then another surge extended up to 2936.00.

The rally might have extended if not for headlines from a Fed Chair speech that triggered a drop to 2931.00. The knee-jerk reaction has been recovered to attack 2935.00, but this is another no-bias environment. Breaking above its 2937.00 bias-up signal when the window starts lapsing would be entirely credible for extending higher.