Mid-day Update… Prove it.

Positive territory recovered, and so far, defended.

Holding a test of this morning’s 2857.75 bias-down signal through the open had put into play an offsetting test of the 2866.25 bias-up signal. And probably also 2867.25, potentially 2869.50. The bias-up signal was tested before the bias window began lapsing. Higher highs before noon probed 2 points higher.

Its reaction has dipped back to 2863.00-2863.50. Yesterday’s open and close, this morning’s opening high, and generally support. None of which means it will prevent another drop into negative territory.

My premise during the Market Tour was for this morning to bounce to 2867.25, and then possible launch a second downleg. There’s still no “unfinished business” above. So, not rallying when this afternoon’s bias window begins lapsing, would probably be because another downleg has already begun.