Mid-day Update… Not without a fight.

Trending down through the noon hour might get push back.

The morning’s 2059.25 bias-down signal had quickly met its 2053.00 target. Several attempts to break lower all failed. The balance of the bias environment bounced to 2060.00 resistance.

Rallying through the noon hour would have been a great opportunity to compartmentalize this morning’s backing-and-filling. But the noon hour slid throughout, probing fresh lows down to 2051.25.

Persistent weakness hasn’t attracted much more selling pressure. The afternoon’s 2053.25 bias-down signal was still being overlapped at 1:20 and 1:30 to trigger noN-bias. The bias-down target isn’t in-play, and neither bias signal must define the range’s extreme.

Back above 2056.00 would give one more chance at an afternoon rally. An afternoon rally is critical to yesterday’s session-long rally ending the three-week old decline. Otherwise, exiting the afternoon bias environment at 2:30 under 2050.50 would all but require the next upleg to originate from lower levels.