Mid-day Update… Lightly triggered.

Bias-up signal is resisting.

This morning’s bias environment wasn’t exited above the open’s 2647.74-2651.25 range. But the upper-end was still being tested, and it broke higher during the noon hour to 2654.50. That wasn’t too late to be credible, but it remains vulnerable.

This afternoon’s 2653.50 bias-up signal was still being tested to invoke the grace period. It triggered late, by the grace of a single tick. And it hasn’t improved since. Actually, a 3-point reaction down from 2655.00 is now attacking 2652.00 as support.

Any lower would trigger a sell signal. If reinforced any deeper than its first 3 minutes, then a probe under this morning’s lows would be likely, at least. Unless and until a sell signal is triggered, this afternoon’s 2660.50 bias-up target remains in-play.

Being Friday afternoon with two days of impending illiquidity fast-approaching, the window for reversing down is quickly closing. Exiting the bias environment without yet reversing down would be vulnerable to extending higher into the close.