Mid-day Update… Putting the “A” in weakend.

Greeting the weekend from a position of weakness.

This morning’s slide through the 1886.00 objective came within 1 tick of its 1873.75 objective. Bouncing into the noon hour retested 1886.00 as resistance before reacting down again.

The 1877.00 bias-down signal was tested but not triggered. That didn’t prevent probing fresh lows, but the “no-bias trending” had to retrace 1877.00.

1877.00 was retraced, but that was at the top of the hour. Rather than wait around for the bias environment to begin lapsing, fresh lows are now testing 1868.50.

The next lower objective is a retest of Wednesday’s 1865.00 low down to 1862.75. This leg could accomplish that, so long as bounce limits hold. A more reliable downleg would first retest the 1877.00 bias-down signal.