Mid-day Update… Rangebound, and up.

Support test produces resistance test.

I noted during the pre-market Tour that direction wasn’t the only question to answer this morning. Trending, at all, was still not assured. In fact, this morning’s drop to the bias-down signal has recovered to retest its opening peak, and Friday’s highs. Trending beyond Friday’s range has yet to develop — let alone, to be indicated.

This morning’s 2182.00 bias-up signal held its test and tested its 2174.25 bias-down signal. Now this afternoon’s 2183.50 bias-up signal has been tested, and back under 2180.50 would start to signal another downdraft underway.

The range need no t break either way today. But trending after the bias environment start lapsing would be more credible for extending.