Mid-day Update… Noon hour avoids fresh lows.

It’s 1:30. Do you know where your reversal is?

This morning’s bias environment eventually included a blip-down to 2287.25. As with all blips, it was retraced quickly back up within the range. Sellers did not gain traction.

The reaction up only pierced the bias environment’s 2290.75 high. But that was a higher high, which upset the post-open decline’s series of lower lows and lower highs. One exception does not make the rule, and a trend reversal still needs one more higher high above 2291.25.

Meanwhile, there has been no lower low. If the market is a rally tinderbox, and a higher high would be the match, then a fresh under 2287.25 low would be the rainstorm that prevents a rally from catching fire today.