Mid-day Update… Second bite?

Back up to unchanged.

Despite ultimately touching 2126.75, a bounce or a recovery was required. Breaking under the 2133.00 bias-down signal at 10:30 was still overlapping 2133.00, which required returning to it at some point — regardless of the resolution. The bias environment started lapsing back at 2133.00.

Surging into the noon hour has extended to within 1 point of the plunge’s 2141.25 origin. And now the afternoon’s 2136.50 bias-up signal has triggered. Back above 2139.00 would signal the rally had resumed.

Meanwhile, the market is still only unchanged at best, and otherwise in negative territory. Two big recoveries from lower and lower probes under yesterday’s low is potentially bullish. That potential is stored energy and otherwise useless if not triggered. Entering positive territory should be that trigger. Meanwhile, there’s room for a little deeper “backing and filling.”