Mid-day Update… and a reminder.

TODAY’S MARKET WRAP BEGINS ONE HOUR EARLY AT 2:33 ET BECAUSE I WILL BE AWAY FROM THE SCREENS DURING THE FINAL HOUR.

This morning’s rally was relentless, and very productive, extending to 2306.00. The most dominant pattern I’m tracking satisfies a lot of buying pressure there. Reacting down during the noon hour suggests as much.

But reacting down only to the 2302.75 sell signal suggests that other patterns are influential, too. And now 2306.00 is being retested.

2306.00 is this afternoon’s bias-up signal, and it did not trigger. Probing above it could be noise, but extending above it before 2:30 would be “no-bias trending” and doomed to failure. There’s room up to 2307.00 before suggesting a move is underway to the 2311.00 objective.

2311.00 doesn’t require being met. There is otherwise no higher objective or “unfinished business above” outstanding. And there is a lot of room below if upside momentum were to lapse.