Mid-day Update… Second time’s a charm?

Retesting overnight highs.

This morning’s drop ultimately tested the 2718.00 bias-up signal. Being a bias-up environment, its test was required to define the window’s lower-end. Which it did, piercing it twice with errant ticks before bouncing.

And bouncing.

The noon hour’s entry had recovered this morning’s 2729.00 sell signal. The noon hour probed the 2732.75 opening high. And the noon hour’s exit probed the 2735.75 pre-open high. All of which was maintained for long enough to trigger this afternoon’s 2733.00 bias-up signal.

A reaction down to 2732.25 ahead of the 2:00 FOMC Minutes is trying to hold. Any lower would be credible for triggering at least a pullback. But a fresh high is otherwise likely at some point for rewarding the late-morning buyers.