Mid-day Update… LATE BIAS-DOWN.

Noon hour’s recovery attempt fails.

Retesting Sunday night’s 2883.50 low had become the next lower attraction, its objective being 2881.00-2882.00. which was pierced just after noon, and launched a noon hour bounce.

The bounce recovered up to 2895.25, twice including an interim 5-point dip. Then the noon hour’s exit resumed the same trajectory as its entry.

The 2880.00 bias-down signal was tested in time to invoke the grace period. When it triggered at 1:30, the 2873.50 bias-down target was being met to within 3 ticks. It has been probed down to 2871.00, with potential to 2870.50.

The path down to 2846.00-2851.00 remains intact. But the bias-down target has been met early in its window. Being down so much intraday with at least 1-minute RSI diverging positively at the low, be aware of the potential for a steep reversal up — probably only a temporary correction if it even develops.