Mid-day Update… Pegged.

Now the upside is being weighed down.

Rallying this morning was already doomed to failure for being premature, since yesterday’s rally had gained no traction for its effort. Attacking 2119.00 did retrace entirely back down to yesterday’s 2111.25 futures close. But no lower.

Meanwhile, this morning’s no-bias signal was not invalidated. The offsetting test of its 2106.50 bias-down signal has become “unfinished business below.” This is extra ballast, on a leaking helium balloon.

Bouncing since exiting the bias environment has tested this afternoon’s 2117.50 bias-up signal. It wasn’t triggered, but it could be probed and still be vulnerable to reversing down this afternoon… like this morning.