Mid-day Update… And a programming note.

I’M AWAY FROM THE SCREENS FOR TODAY’S LAST 90 MINUTES.
THERE IS NO MARKET WRAP.

Our long, national nightmare is over. Those lines on the nearby chart were all actionable if probed beyond their first 3 minutes.

Actually, it wasn’t as bad as that. It was worse. We had warning — if not of a “dry cleaners morning,” then at least from a noN-bias signal. Nevertheless, it’s always astonishing in one way or another how torturous and frustrating the market can whiplash itself about.

The first hour’s range was resisted by its 2645.50 bias-down signal. It essentially supported the balance of the morning. Every test of the range’s 2650.50 inflection point above was only overlapped and never exceeded its first 3-minute extreme. The same went for its 2643.00 inflection point below.

As often happens with such mornings that do resolve the same day, their resolution tends to be swift. In fact, this afternoon’s 2650.50 bias-up signal was triggered on the way to its 2660.75 bias-up target several minutes later. Its reaction down is now probing fresh highs at 2663.00.

Room for noise above the gap back to yesterday’s 2654.00-2654.75 close is 2663.75, being attacked now to within 1 tick. Exiting the bias environment any higher would next target 2673.75 and potentially also 2684.00. Otherwise, until neutralizing overbought RSIs at the high, the nearest sell signal would trigger back under 2651.75.