Mid-day Update… Sooo close.

Bias-up triggered by attack on prior highs.

Rallying this morning was consolidated at 1888.00-1894.00. Resuming the rally at noon extended to attack 1899.50.

A dip to 1894.00 recovered enough to trigger the 1895.50 bias-up signal. That was extended to retest 1899.50.

But rather than extend up to the 1902.00 bias-up target, the retest of 1899.50 reacted back down to the 1895.50 bias-up signal. That dip has extended more than 2 points under the 1894.00 interim low.

The 1902.00 bias-up target can still become “unfinished business above.” But that requires recovering the bias-up signal’s 1894.00 last relative low at the 2:30 bias environment exit.

Nothing precludes the bias environment exit from simply collapsing. But coming back all this way from overnight lows just to attack prior highs does seem suddenly pessimistic — which is potentially bullish from a contrarian perspective.