Mid-day Update… Less noise, barely ranging.

Volatility has gone into hiding.

The post-open slide that triggered bias-down probed the 2724.50 overnight low on the way to touching yesterday’s 2722.25 low. But no lower. Probing fresh lows during the 10:15-10:30 window made a recovery very unlikely.

A recovery, but not necessarily a retracement. In fact, the post-open slide was retraced almost entirely to within 1 point of its 2736.50 high. And “unfinished business” was left outstanding at this morning’s 2720.25 bias-down target.

Dips since the recovery have repeatedly tested 2726.50 as support. But there are no indications of trending, especially as this afternoon’s no-bias signal is triggered without testing either bias signal. Be careful in this environment not to force a trade.

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