Mid-day Update… Influence back-pedaling.

Bearish morning bounces into otherwise bearish afternoon.

This morning’s drop extended down eventually 24 points to attack 2668.00. An 11-point bounce resolved down during the noon hour to test 2665.00. Its reaction up was still overlapping this morning’s low going into the bias environment. The 2671.25 bias-down signal was still being overlapped, too. Downside momentum needed to rest.

Now that rest should be ending. No-bias triggered late, and the 2671.25 bias-down signal has defined the bias environment’s lower-end. A bounce to 2677.00 is drifting back down as the bias environment comes within view of lapsing. The bias-down signal no longer need hold as support.

More so, the bias-down signal’s support should break lower. The bearish WedEX should start influencing price action down. Back under 2670.00 would signal that momentum is reversing down, with potential to trend down through the close.