Mid-day Update… Session-long, anyway?

Trending higher through every timing window, so far.

Yesterday afternoon’s 2431.50 bias environment high had printed early in its window, before plunging 11 points. the window ended by bouncing up to 2427.50. We discussed during yesterday’s Market Wrap that gapping up and/or through 2427.50 would have to be respected. But an actual “session-long rally” setup would require gapping up through 2431.50.

None of which has prevented extending higher relentlessly today since isolating the probe under yesterday’s lows to the overnight. Every timing window has probed the prior window. This morning’s renewed bias-up target was fulfilled, and now this afternoon has triggered late bias-up.

If this were a session-long rally, then only one timing window would not print a higher high. Typically, that’s the noon hour, but not today. The afternoon bias environment was just entered, and avoiding a fresh high would enable the final hour to extend to new highs. But there is immediate vulnerability to reversing down the moment after printing a new during this afternoon’s bias environment.