Mid-day Update… One-way street, in R.

Hovering at resistance.

This morning’s bias environment fulfilled the retest of Friday morning’s 2439.50 high. Actually, the open’s surge did that. The bias environment extended up to 2445.25. Rallying again at the bias environment’s 11:30 lapsing was bullish, and the noon hour extended up to 2448.50.

2448.50 is the afternoon bias-up signal. It didn’t trigger. But two reactions down were recovered entirely. Often, that resolves up anyway when the bias environment begins lapsing — whether or not durably.

This morning’s doubly-renewed bias-up target was 2446.00. So long as it holds pullbacks during the bias environment, at least an obligatory fresh high is likely. And it would likely touch 2450.75, regardless of its resolution from there. Back under 2445.00 would instead start signaling momentum already reversing down.