Mid-day Update… Sellers remain subdued.

Still no signs of capitulation.

This morning’s noN-bias environment extended down to 2389.75 until the bias environment began lapsing. The trend has since reversed up, attacking the 2395.00 bias-up signal. The signal was actually touched  minutes too soon to invoke the grace period. Exceeding 2395.00 through 1:30 would at least invalidate the afternoon’s no-bias signal.

Otherwise, 2395.00 should define the bias environment’s upper-end. Probing above it is possible, albeit doomed to failure for being “no-bias trending.” Backing-and-filling for an hour would be likelier, perhaps testing this morning’s low down to 2388.75.

Extending higher later remains possible, if not likely. Probing Sunday night’s high will continue to be the likely resolution unless this afternoon were to give this morning’s decline the credibility that it currently lacks.