Mid-day Update… Between a soft rock and a not-hard place.

Recovery ranging between obligatory levels.

The open’s plunge back to and through overnight lows was recovered entirely during the morning bias environment. Down from 2746.75 to 2736.50, and back up to 2748.50. Flat-to-higher ranging since then eked its way back above yesterday morning’s 2748.00 lows to attack yesterday’s 2750.75 close.

2748.00 and 2750.75. Not quite the proverbial “rock and a hard place.” But still relevant support / resistance whose recovery or rejection through a relevant window would be likely to extend in that direction.

Back under 2746.50 would start to signal another downleg underway targeting 2730.75. There’s otherwise no requirement to trend any more for the balance of today — or tomorrow morning, either, if the balance of today hasn’t ranged away from 2748.00 and 2750.75.