Mid-day Update… The market IS the other shoe.

Bouncing back down to session lows.

This morning’s 9-point drop to 2460.00 avoided both triggering bias-down and rejecting it. Its noN-bias environment’s sharp 7-point was impressive, but also retraced entirely. The noon hour’s retest of the morning’s low attacked this afternoon’s 2459.25 bias-down signal to within 1 tick. And also failed to trigger.

But this is a no-bias environment. If tested, 2459.25 should define the window’s lower-end. But not after the bias environment begins lapsing, or even comes within view. Hovering near the lows under 2464.00 would keep selling pressure well-positioned to easily unload into the close. No news would be needed — just the overnight and morning recovery attempts being abandoned.

Otherwise, back above 2466.00 would start to signal that the overnight and post-open drops had been absorbed. A retest of last Friday’s range above would be targeted. Trading out the session within its current range isn’t likely.