Mid-day Update… Restrained optimism.

Hovering at highs.

The open’s surge stopped immediately upon filling the gap back to Friday’s 2751.25 gap up. Just touching a filled gap isn’t ever likely to launch a reversal. And that undermined its reaction down to 2742.00 from extending. Which it didn’t.

The noon hour’s probe up to 2753.25 satisfies the room for noise above 2751.25, and touching it did react down. But that hasn’t launched a reversal, either. Not for lack of trying — the afternoon’s 2750.50 bias-up signal held its test to trigger late no-bias.

Exiting the bias environment back above 2752.50 would start to signal the rally is extending. This afternoon’s 2757.50 bias-up target would still be a likely attraction, and any higher would be difficult to reverse down today. Otherwise, back under 2748.00 and 2743.00 would signal and confirm a reversal is underway already.