Mid-day Update… Not enthused.

New highs aren’t attracting new buyers.

Immediately collapsing this morning without first surging would have been credible for extending down. Immediately surging would have been credible for extending up. Instead of exploiting either setup, the opening hour held a narrow 2-point range  between 2554.00-2556.25. And THEN trending was attempted.

By then, collapsing only attacked 2552.00. It was too late for that price action to be considered the open. It could have extended deeper, but it was recovered entirely back up to 2556.25. Now, dipping into and out of the noon hour is attacking the morning’s low to within 1 tick. It could extend deeper, but that isn’t required any more so than this morning’s setup.

Recovering entirely back up to 2556.25 would all but ensure another probe of fresh highs. There’s meanwhile no requirement for this session to budge at all. But suddenly sliding as the afternoon bias environment begins lapsing at 2:30 would be credible for extending down.