Mid-day Update… Pause to reflect.

No-bias window, which will lapse.

This morning’s surge to 2012.00 was retraced ultimately back under the 2905.00 open down to 2901.75. The reversal’s likely objective was 2903.00, and every bar printing under it was also overlapping it. So, sellers never triggered a lower objective.

Rallying back into the noon hour quickly peaked within 1 tick of 2012.00. Flat-to-lower ranging since then has held the 2910.25 bias-up signal as resistance. The bias window is being entered at 2907.00, with room down to its 2905.50 bias-down signal.

Trending again today isn’t required, but I’d be a little surprised if the balance of the session only ranged into the close. There are quite a few multi-tick sentiment extremes (highlighted yellow in the chart), i.e. not singular errant ticks. Price action may be range-bound for now, but there seems to be an interest in trending.