Mid-day Update… Relentless.

Another bias-down renewed.

Entering the noon hour at fresh lows quickly extended down to touch the minimum objective for this entire downleg at 2901.00. That’s also this afternoon’s bias-down signal, and its reaction up to 2905.00 quickly failed. Fresh lows  barely pierced this afternoon’s 2894.00 bias-down target.

Another bounce attacked 2905.00, which failed again, and returned to 2894.00, again. This time, lower, in time to renew the afternoon’s bias-down signal, next targeting 2888.00.

RSIs are diverging positively into new session lows at 2890.50. Its the second positive divergence, so probing lower without first bouncing above the setup’s 2896.25 interim high would become vulnerable to essentially doubling today’s drop.

There’s otherwise no requirement to extend lower today. Meanwhile, exiting the bias environment back above 2901.00, or recovering 2905.00 into the final hour, would be the nearest signal that the decline had ended.