Mid-day Update… Regaining its momentum?

Hovering through the highs, into and out of the noon hour.

The open had surged from 2256.00 up to almost 2264.00. That was the opening 5 minutes. That was corrected down to 2257.50 through the balance of the hour. The balance of the morning retraced the opening high.

And the noon hour probed it by 1 point. Its fresh high was isolated to the noon hour, but only shallowly. Rejecting a more decisive rally effort, or a more decisive rejection, would have suggested the weakest-handed buyers were done. That would have been bearish. But that was avoided.

No-bias triggered, but back under 2261.00 would start to signal a deeper pullback underway. Meanwhile, the rally is free to resume, and to at least test this afternoon’s 2265.75 bias-up signal until the bias environment begins lapsing.