Mid-day Update… Next?

And back to having no unfinished business above.

Unfinished business above at 2677.75 was fulfilled as the morning’s bias environment began lapsing. Its 3-point reaction down was recovered to higher highs at 2679.00 during the noon hour. Overbought RSIs at the target were neutralized, and not replaced. The 2678.75 bias-up signal did not trigger. There is no higher objective in-play, and no further unfinished business above outstanding.

The session-long rally has probed each prior timing window’s high, with two remaining — the afternoon bias environment, and the last 60-90 minutes. At least one should probe its prior timing window’s high. The final hour could plunge, and still have fulfilled the rally setup if 2679.00 is probed before then.

The bearish WedEX could cause the final hour to plunge. Or it could cause the final hour to drift lower. It can co-exist with the session-long rally, so long as one more fresh high is probed.

Meanwhile, the knee-jerk reaction to Rubio saying “yes” (the first time, try to keep up) should be retraced down to 2666.75. The choppy enhanced volatility environment that was signaled Wednesday is now greeting the Friday Factor’s afternoon slowdown potential. It’s difficult to maintain trending, but no easier to reverse it.