Mid-day Update… One-off?

Noon hour exited above morning’s range.

It’s still negative territory, 2-3 points under yesterday’s 2559.50 cash session close. But that’s a 3-4 points above the open’s 2553.75-2554.50 peak.

We already know the opening peak’s relevance, since we stalked it for short-entry. And its reaction was productive, both testing its renewed bias-down target 2546.25 objective and containing the selling pressure to the opening 45 minutes. The morning’s bias environment contained no downtrending, seriously undermining sellers.

Exiting the noon hour above that entire morning range is signaling that the overnight drop may have been a one-off. Not an anomaly, but possibly a warning shot across the bow. In either case, “unfinished business above” at yesterday’s highs may be tested before a durable collapse.

Now this afternoon has triggered noN-bias. Its 2556.00 bias-up signal need not define this window’s upper-end, and its bias-up target need not be met. But the window is free to extend anyway, which it’s trying, currently attacking 2558.00. Only a break back under 2553.75 would suggest another downleg may be underway.