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Mid-day Update… Mission creep. – If, Then… Market Timing

Mid-day Update… Mission creep.

Building on small bullish WedEX gain.

Consolidating at or under 2580.25 resistance persisted through the open, through the opening hour, and well into the morning bias environment. Eking higher eventually touched 2583.50, clearly a post-open high, and confirmation that isolating the overnight probe under Friday’s low had gained traction.

A noon hour dip tested 2580.25 as support and recovered to fresh highs through the noon hour’s exit. But the afternoon’s 2584.50 bias-up signal has been attacked to within 1 point, but it did not trigger.

Being no-bias, the afternoon bias environment can still test 2584.50 or even probe it. But trending above it would be “no-bias trending” and require at least retracing its probe. RSIs are overbought currently, so a reaction down from here would likely recover.

Meanwhile, this morning’s bullish WedEX influence — such as it was — is irrelevant. Extending higher at all during the balance of the morning would be due to other attraction. So long as no pullback limit is violated, a retest of last week’s highs and higher remains likely.