Mid-day Update… Icarus is jealous.

Weak base, premature rally, targets met, noN-bias. What’s the hold up?

Complexity associated with last night’s 2116.25 high required its intraday retest, which is done often the same day. It was met this morning as the bias environment began lapsing.

Also met is this morning’s 2117.00 bias-up target. Its test has room for noise up to 2119.00, and a higher objective would be in-play at 2125.25. The 1:20-1:30 bias timing window didn’t confirm momentum remains intact, since its 2017.25 bias-up signal was still being tested to trigger noN-bias.

So, two influences are competing against each other. Nothing will alter that this morning’s rally originated from a weak foundation. Meanwhile, the post-open uptrend of higher highs and higher lows remains intact. Upside momentum can’t afford to lapse after having neutralized upside attractions, because its first stumble could be its last.