Mid-day Update… Morning-long.

Substantial rally fulfills its upside.

Recovering 2038.50 after twice probing fresh lows post-open had suggested a substantial morning-long rally would develop. This being a Friday, the morning’s bias is likely to extend into the afternoon.

The morning’s late bias-down signal contradicted the bullish scenario. But the requirement to retest this morning’s 2048.75 bias-down signal can become “unfinished business below.” And it has.

Meanwhile, a noon hour pullback fulfilled its minimum objective at 2050.50. Its recovery has extended to fresh session highs at 2058.50 and triggered late bias-up. The 2061.25 bias-up target is in-play.