Mid-day Update… What could possibly go wrong.

Productive trend, targets met, RSIs diverging… wait, what?

Consolidating through the bias environment’s end had formed a reliable accumulative pattern. It broke higher through 1910.00 to fulfill the 1913.00 objective. It extended higher through there to fulfill this afternoon’s 1919.75 bias-up target (by 1 tick).

The accumulative pattern’s corrective phase is biased upward. That reflects optimism, which tends to be sorely missed when new highs are probed. So far, that issue isn’t bothering the pattern’s breakout. But RSIs are deteriorating quickly.

Back under 1915.75 would start to signal momentum reversing down. Back under each prior would confirm. Exiting Friday afternoon’s bias environment by counter-trending can be pretty powerful before the close. But don’t get caught short of the bias environment exit is probing fresh highs.