Mid-day Update… Session-long, after all?

Relentlessly higher highs following the setup’s template.

Having trended down into the prior session’s close, gapping up above its afternoon bias environment high can form a “session-long setup.” All but one intraday timing window would then probe its prior timing window’s high. That exception tends to be the noon hour, or else the last 60-90 minutes.

Occasionally, the exception is the morning’s bias environment. But not today, after it extended the post-open 6-point surge from 2108.00 another 7-9 points to 2121.00 and 2123.00. And it’s not the noon hour, which immediately probed a fresh high.

All of which assumes this is a session-long rally. It may be, but developing with an interim weekend is not reliable. Nevertheless, we’ll still tack the timing window template.

Price action since the noon hour’s initial surge has ranged flat to lower, only slightly lower, testing 2122.00. A deeper pullback could end at 2118.25 or fall to 2113.50, and still not signal the trend reversing down. Probing a fresh high during this current bias environment would enable raising the sell signal, but not the potential attraction’s below.

Complying entirely with the template for a session-long rally wouldn’t make its other features any more reliable. But I should note that when the setup’s timing windows do extend correctly, the following morning tends to probe higher, too.