Mid-day Update… Made. Not yet breaking.

Long-standing target met, still testing.

The 2415.00 renewed bias-up target was met this morning up to 2416.50. It was never probed higher than its first 3 minutes. And only one 1-minute bar is both detached from it and also printing a fresh high.

RSIs had diverged negatively along the way up, and again at the high. Price action since then has been under pressure. Dipping into the noon hour attacked 2410.00, where the first negative divergence had developed.

Bouncing into the noon hour’s exit attacked this afternoon’s 2415.75 bias-up signal to within 1 tick. It didn’t trigger. Consolidating back down to 2412.50 is threatening to launch an afternoon downleg, which almost any lower would trigger.

Otherwise, back above 2415.00 would start to signal the rally is extending. That’s still unlikely, if only because it’s difficult to attract reinforcements with the weekend looming — let alone a 3-day weekend. Tomorrow would be more vulnerable to a short-squeeze, but today still has some luxury of time allowing buyers to be patient.