Mid-day Update… Second chances? (And third?)

Another deep pullback is recovering.

The open’s probe above 2010.00 had reacted down. A recovery retested 2010.00. And now another recovery is testing 2010.00. All following yesterday’s late surge to 2010.00.

This current bounce to 2010.00 comes after holding a test of the afternoon’s 1999.00 bias-down signal, which had narrowly avoided triggering. Actually, the bounce is 3 points above the bias-up signal. That’s “no-bias trending,” which requires being retraced, whether back down to the 2007.00 bias-up signal, or to the 1999.00 1:20 print.

Already, 2007.00 is being retraced. Back under 2004.00 would make 1999.00‘s test likely — and there’s no bullish reason in this pattern to retest 1999.00. There’s no requirement to test 1999.00, and back above 2010.75 would be credible for launching a rally leg.