Mid-day Update… Hovering, not rallying.

This morning’s bias environment was exited above its 2721.00 bias-up target. That had extended already up to 2729.75 resistance into the noon hour. This was also the afternoon’s bias-up signal, which held through 1:20 to avoid triggering.

Reacting down from 2729.75 had fallen to 2722.00 at the bias timing window. This was 4 points above the afternoon’s bias-down signal, so no-bias has triggered.

None of which qualifies as a rally. Exiting the bias environment above its bias-up target id keep open the door to an afternoon rally, but the bias signal didn’t exploit the opportunity. The afternoon’s 2729.75 bias-up signal should define the window’s upper-end, probably up to 2731.00.

Meanwhile, Friday Factors can still be influential. That tends to be either early or late. They weren’t influential early, so trending out of the bias environment exit is still possible — whether that’s higher to help validate yesterday’s Isolation setup, or lower to prove that buyers have been conditioned into reluctance.