Mid-day Update… No reinforcements, either way.

Temporary probe of fresh highs is retraced, not rejected.

Extending higher this morning depended entirely on attracting post-open reinforcements to what was very likely going to probe overnight highs. In fact, a quick surge touched this morning’s 2741.50 bias-up target, and then collapsed.

Well, collapsed to a relative degree, relative to an otherwise narrow range. The bias environment low attacked, touched and pierced 2733.00. But momentum never reversed down.

Now an interim bounce up to 2739.00 has been reversed back down to the morning’s lows. The 2730.50 bias-down signal could be tested during this afternoon’s no-bias environment, but it’s not required.

This morning did leave “unfinished business below” at its 2727.25 bias-down signal. The late no-bias had also rejected a test of the bias-up target, so an offsetting test of the morning’s 2721.50 bias-down target, so an attraction to it is in-play, albeit not required.

Back above 2737.50 would start to signal momentum reversing up. That’s still a possibility. Except for today’s intraday lower and lower highs, that’s a likelihood. Especially until sellers are more productive than just retracing bounces back down to unchanged —  and so long as the 2732.00 upper-end (now “lower prior high) of last Monday afternoon’s range holds as support.