Mid-day Update… Resolving down and down.

Bounces still failing.

A choppy morning held multiple tests of the 2123.25 bias-down signal. One of the tests was timed appropriately to trigger no-bias, putting into play an offsetting test of the 2132.25 bias-up signal. Despite diving back down to 2123.25 as the bias environment began lapsing, the bias-down signal held again. Now 2132.25 becomes “unfinished business above.”

That will have to wait. Chipping away at 2122.50 through the noon hour kept open the door to attacking overnight lows. Now late bias-down is triggering under 2121.25.

Not yet recovering this afternoon could extend down and resume last week’s declines. Either fulfill this afternoon’s 2116.00 bias-down target and then rally sharply, or else leave it outstanding by already recovering the 2125.00 area. Otherwise, trading deeper would be more durable, next targeting 2105.00 and 2095.00.