Mid-day Update… Nothing left up that sleeve.

Sponsorship to extend higher must make itself obvious soon.

Exceeding the 1960.00 objective has spent the morning trending higher. That doesn’t yet confirm a bigger rally is underway targeting a complete retracement of the August FOMC reaction’s 2011.75 high — but it’s a start.

Confirmation still could go a little further. Near-term, that would be to trigger this afternoon’s bias-up and extend higher so a late-afternoon drop has room to be absorbed reaction down. Or at the close, maintain the recovery above 1960.00.

Sponsorship for extending higher is needed. Because the morning’s rally has satisfied all other objectives that developed along the way: The structural requirement to probe above the open’s 1968.25 highs, the pattern’s likelihood to reject the shallow false break lower. Swing measurements targeting 1969.50.

Exceeding 1970.50 now should also trigger the 1968.75 bias-up signal at 1:20. Probably not back under 1966.50, and even less so under 1960.00.