Mid-day Update… Paralyzed.

Ranging around the next lower objective. And ranging.

Any post-open bounce this morning was likely to be only temporary, before resolving down to 2025.00-2027.00. The post-open bounce to 2039.50 had resolved won aggressively to fulfill the objective.

It was probed down to 2024.00, and later extended down to 2022.00. But that was well before the noon hour, and price action since then has only ranged choppily sideways.

The noon hour ignored an opportunity to bounce and to compartmentalize this morning’s decline. Resuming the decline could extend through the next lower objective in the 2018.00 area to probe under 2000.00.

A bounce to 2033.75-2035.00 is still possible. But nothing yet suggests that wouldn’t just refuel sellers again like this morning.