Mid-day Update… Narrower afternoon.

6-tick range avoiding all controversy.

While overnight and opening action were contained within Friday afternoon’s range, the ranging was choppy. The range has persisted through the noon hour, but narrowed considerably, as the choppiness disappears.

Again, neither bias signal is being attacked. Much more so this afternoon than this morning. None of which precludes a trending attempt this afternoon, but makes a trending attempt likelier to extend for releasing its pent-up buying or selling pressure.

Still not rallying does continue to suggest there are inhibiting attractions below. Fresh highs would get a benefit of the doubt for extending, but more briefly than would a break lower.