Mid-day Update… Slow-playing the upside.

No-bias signal’s reward rescinded.

Holding a test of the 2082.00 bias-down signal through 10:!5 had put into play an offsetting test of the 2093.00 bias-up signal. Exiting the bias environment back under 2082.00 would have invalidated the reward for originally having held it. Otherwise, 2093.00 would become “unfinished business above.”

But fresh highs were probed after 10:15. Now sponsorship was attracted. Invalidating the reward would now require not only waning sponsorship, but also greater counter-trend sponsorship. And that would be signaled by exiting the bias environment under the open’s 2078.50 low.

The bias environment started lapsing at 11:30 from above 2082.00. But the noon hour was entered at fresh session lows testing 2076.00. The 2093.00 objective is NOT “unfinished business above.”

That’s not bullish, but neither is it necessarily bearish. The likelier bearish templates would have retaken control this morning. This probe can still be absorbed. If it’s not, then the decline unfolding from last week’s highs remains intact, and pointed sharply lower.