Mid-day Update… Settling in, but not settling down.

No-bias afternoon underway.

This morning’s reaction down from 2469.00 had triggered the 2465.50 bias-down signal late, and then extended to 2462.00. That had firmed back up to 2465.00 when news broke that N. Korea had resumed its effort to destroy the Sea of Japan. That triggered a knee-jerk reaction down to touch the 2461.50 overnight low.

Which triggered a knee-jerk reaction back up to 2465.00 and through it. The noon hour was entered at 2468.00.

This morning’s 2458.50 bias-down target is unfinished business below. But there’s no timing to its eventual test. Especially with this being a Friday, now a Friday afternoon. This afternoon’s no-bias signal won’t be of much help, and the balance of the session may simply persist in negative territory.

Having said that, back above 2468.25 would being signaling another recovery attempt underway. Natural resistance lies above at yesterday’s 2473.00-2475.00 close. There is otherwise room down to 2458.50, but any lower when the bias environment lapses could slide sharply into the weekend.