Mid-day Update… The least path of support.

Morning’s low fails.

One of the latest bullish scenarios would have been proved by entering the noon hour attacking post-open highs. That would have indicated the morning bias environment’s selling pressure was all that sellers could do. It wasn’t; the noon hour was entered at fresh lows.

Even entering the afternoon bias environment above relevant resistance could have indicated sellers were done. There wouldn’t have been the same potential to attract buyers, but first things first. The bias environment was entered at fresh lows.

Despite triggering noN-bias, this afternoon’s 2781.00 bias-down target is being tested. Exiting the bias environment back above its 2786.50 bias-down signal would rob sellers of their traction. Back above 2793.50 could start to reverse the trend up. But meanwhile the risk continues to be that two days of impending illiquidity is leveraging a week of decline to produce even more selling pressure.