Mid-day Update… One way or another.

Attraction above neutralized, just in time.

The offsetting test of this morning’s 2738.25 bias-up signal was met at this morning’s high. Its reaction down could have been shallow and/or brief, but it was deep — down to 2721.50 by noon.

Ultimately, a surge up to 2748.75 fulfilled the offsetting test of this morning’s 2745.50 bias-up target. The surge there was triggered by a Trump tweet on China trade, but it didn’t require extending so high.

Anyway, now this afternoon’s bias environment has begun, and a bearish WedEX influence is likely. The noon hour’s surge has been retraced already down to 2724.75, largely retracing the tweet’s origin, and all of the 2727.25 buy signal that it had triggered.

Friday afternoon’s Bearish WedEX can be shallow, too, and usually is. Regardless, price action should be biased downward through the close.