Mid-day Update… Mission Accomplished.

New highs printed, with dubious timing that tries reverse down.

Holding a test of the 2472.75 bias-down signal had put into play an offsetting test of the 2478.75 bias-up signal. The most bullish scenario I described for this morning was to attack yesterday’s ~2478.00 highs and then break higher this afternoon. The rally was too impatient to wait, and surged to new highs at 2488.50.

The move originated during a no-bias environment whose bias-up signal should have defined the window’s upper-end. Alternatively, the “no-bias” trending could be retraced back down to 2478.75, if not also to the 2475.50 10:15 print.

2478.75 was retraced as this afternoon’s bias environment began. It was probed by 1 point before bouncing. Another dip is threatening to reach 2475.50.

Meanwhile, there is no “unfinished business above.” Only 2484.00 needed to be met. Closing above it would suggest a bigger rally underway targeting 2515.00 (2504.00-2522.00). Otherwise, closing under the 2472.50-2474.00 open would form a Pivot Reversal that points down sharply. For awhile.