Mid-day Update… Hope springs again.

Noon hour prints fresh post-open highs.

WedEX’s bearish influence was essentially limited to probing a new trend low, and to the morning’s range being exclusively negative territory. But the bias environment itself was a rally that attacked the open’s 2428.25 high. Regardless, its influence is done.

Potential for being attracted back up to the opening range was fulfilled by a 10-point bounce off the 2415.75 low. The 2414.25 bias-down target became “unfinished business below.” Bouncing higher into the noon hour tested this afternoon’s 2429.00 bias-up signal by 2 ticks. But the noon hour exit had dipped to 2525.25.

This afternoon’s no-bias environment need not resolve either way today, and it will be vulnerable to resolving either way. Back above 2429.00 would have potential for retesting Friday morning’s 2439.50 high. Otherwise, probing back under Friday’s 2424.50 cash session close and resuming the decline could extend into Wednesday morning.