Mid-day Update… Looks familiar.

New high, but holding its target.

The reaction from the open’s 2759.50 high had reacted down to 2753.25. Being pessimistically short of actually touching last week’s 2560.00 high, its recovery was likely. And its recovery was likely to be measured in points, not ticks.

In fact, the morning’s high did touch 2760.00 before the bias environment began lapsing. Its reaction into the noon hour was recovered to probe fresh highs up to 2765.50.

That’s also a test of this afternoon’s 2765.25 bias-up target. It held through 1:20 to avoid renewing the 2759.25 bias-up signal. But this is still a bias-up environment. If tested, 2759.25 should define the window’s lower-end. It can be broken durably later.

Nothing requires reversing down. Extending up is possible, but less likely since relevant resistance held through a relevant window. Meanwhile, this afternoon is vulnerable to backing-and-filling, and potentially reversing back down.