Mid-day Update… No cigar

Only attacking the bias-up signal.

Gapping down had extended to 2463.50, which had been unfinished business below and this morning’s bias-down target. It held as support to avoid renewing the bias-down signal.Two more tests held, and the balance of the morning ranged sideways in negative territory.

It wasn’t optimal like isolating 2463.50‘s test to the open, but not gaining traction for expending selling pressure all morning isn’t that far removed. Otherwise, this morning’s pattern delivered everything that the bullish template required.

The morning’s bias environment exit was had firmed back up to the 2465.75 open. Extending through the noon hour attacked the 2470.50 bias-up signal to within 2 ticks. Bias-up didn’t trigger. This afternoon’s bullish WedEX influence could exceed the 2470.50 bias-up signal anyway, or wait for the bias-environment to lapse. Regardless, back under 2465.50 would signal momentum reversing down.