Mid-day Update… Specks.

Narrow intraday range.

Gapping down to attack yesterday’s low was the most relevant feature to today’s range. The test held, although it wasn’t really a test. Anyway, the post-open bounce has been testing yesterday’s highs. Not the overnight highs, but yesterday’s slightly lower intraday high.

It’s not a very wide range, and it’s not very interesting price action. In fact, it’s now two consecutive no-bias signals on an “inside day.” Trending before the afternoon bias environment begins lapsing would be suspicious.

Trending after the afternoon bias environment begins lapsing would be credible for extending. Dipping under 2492.00 could test or attack 2488.00 and then collapse into the close. Or not collapse — nothing is required, which is the difficulty of a no-bias inside day.