Mid-day Update… Narrowly upheld.

Hovering at the morning’s highs.

Fluctuating choppily around this morning’s 2153.00 bias-up target between 2150.00-2155.00 hasn’t really broken out either way. The ascending triangular pattern did eventually break higher at noon. Momentarily. Shallowly. Ranging more narrowly since then has been centered around the morning’s 2155.50 high.

None of which is a sell signal. The morning’s price action wasn’t inconsistent with having inverted yesterday’s bearish setup, although not much exploited. Now the renewed bias-up signal has lapsed, without creating any required upside objective.

But the pattern isn’t bearish. Resolving up remains likelier than down. Still, a blip-down may become necessary to stretch the rubber band for snapping back up, especially if not already rallying out of this afternoon’s bias environment.

Dipping under 2150.50-2151.25 could be too deep of a stretch to snap back up. At least, not before attacking yesterday’s lows — which would risk breaking under them.