Mid-day Update… Runaway.

REMINDER: I’m away from the screens for today’s last half-hour. Market Wrap will be held a half-hour early at 3:03 ET.

Having rejected tests of both bias-down parameters this morning, offsetting tests of both bias-up parameters were put into play. Triggering late — by the grace period — made the upside objectives only likely instead of required. But extending to fresh highs through 10:30 had at least confirmed the no-bias.

Reacting down along the way from 2812.50 had potential to 2801.50. Stopping short at 2804.50 and still triggering another buy signal as the bias environment began lapsing made the offsetting tests likely today. And now they’ve been probed up to 2828.50.

The overnight low was 2891.00.

That’s a lot of buying pressure. And a lot of optimism, especially ahead of tomorrow morning’s pre-open Employment Situation report. It follows a lot of selling and pessimism, so maybe buyers aren’t relatively extended. And they’ve overcome the 2815.50-2822.00 targets. Currently, this afternoon’s 2822.00 bias-up target was exceeded in time to renew the bias-up signal. It’s next target is 2828.50-2831.00, the lower-end now being touched.

Today is not a “session-long rally” setup, so there’s no assurance of extending higher. But even if we knew with 100% certainty that today’s high has printed, there’s also no assurance of reversing down, instead of simply drifting sideways through the close.