Mid-day Update… Right-turn, Clyde.

Reversal not yet confirmed, but the burden of proof has shifted.

Buyers have failed to exploit multiple opportunities to extend the rally:

o Last night’s opening surge didn’t form a required retest.
o Probing above Friday’s high was isolated to the overnight.
o The post-open probe above Friday’s high was isolated between the opening 15 minutes of volatility and the 10:15 bias timing widow.
o The post-open surge held a 61.8% retracement of the overnight reaction.
o And the bias environment’s test of the open’s low resolved down.

None of which is yet conclusive to signal the trend reversing down. This morning’s 2253.25 and this afternoon’s 2247.25 bias signals held off attempts to trigger them And now this afternoon’s bias signal is being tested, too late/early for its probe to be strong-handed sponsorship.

The bigger picture is vulnerable to beginning a multi-session pullback today. There’s no bearish reason for this afternoon not to be in decline already. Ranging narrowly sideways and then gapping down sharply tomorrow would be credible. Otherwise, any further delay would make last night’s high likely to be retested.