Mid-day Update… Up the down staircase.

Late bias-up tries undermining bearish WedEX.

This morning’s dip to attack 2053.00 was retraced back up to 2062.50 through noon. Its reaction down to 2056.00 was recovered entirely. During that recovery, bias-up signaled.

Bias-up signaled late, so its 2066.00 bias-up target isn’t required to be met. The bearish WedEX influence can absorb the target’s test and reverse down before the close. The bias-up itself can be invalidated by exiting the bias environment under the afternoon’s 2056.00 low.

Fresh afternoon highs would make the bias-up target likely to be met, regardless of its resolution. But back under 2058.75 would start giving the bearish WedEx more credibility than the bullish bias-up.