Mid-day Update… No, he’s not a subscriber.

Trump tariff talk triggers tumble to target.

Opening at this morning’s 2912.25 bias-up signal didn’t recover it, and didn’t trigger it. An offsetting test of the morning’s 2903.25 bias-down signal was put into play. That didn’t stop bouncing back up to 2912.25, but its test defined the no-bias window’s upper-end.

Probing 2912.25 during the morning’s no-bias window would have required its retracement. Probing it after that wouldn’t have required its retracement, not directly, only indirectly while fulfilling “unfinished business” at 2903.25.

And maybe 2912.25 was going to be probed. We won’t know, because a trade war headline triggered a spike down that attacked the open’s 2909.50 low. Trending through it to 2902.00 has neutralized the unfinished business.

2903.25 is also this afternoon’s bias-down target. Its test has held, but the 2909.00 bias-down signal triggered cleanly. It’s still a bias-down environment that can extend lower. The window can also bounce back up to 2909.00, and higher after the bias window starts lapsing. The headline reaction can be retraced back up to its 2912.25 origin.