Mid-day Update… Down isn’t done.

Noon hour bounce fizzles.

This morning’s 2378.50 bias-down triggered late, but it triggered. Its 2372.25 bias-down target was attacked to within 6 ticks, but it became “unfinished business below.”

Bouncing into and out of the noon hour got a boost from Yellen’s remarks. A spike down to 2376.00 blipped-back up immediately to touch 2381.00. But the blip-up has been retraced entirely.

It’s too late to trigger bias-down under 2375.00. Probing under it during the no-bias environment isn’t likely. But it’s possible, and its “no-bias trending” and required to recover, which would not be inappropriate since fresh lows are likely to recovery anyway.