Mid-day Update… Stepping back from the precipice.

Fresh lows testing critical support.

Renewing this morning’s 2635.25 bias-down target at 10:15 would have next targeted 2623.00. Probing down to 2634.00 was recovered in time to avoid renewing the signal, but it was still a bias-down environment. Never mind that. Holding the bias timing window didn’t prevent trending down through the bias environment, a not so rare exception to the usual.

The morning’s 2626.50 low reacted up to test the open’s 2634.00 low as resistance. Consolidating through the noon hour finally broke lower to within 1 tick of 2623.00. And this afternoon’s 2625.25 bias-down signal just triggered noN-bias — the bias-down target isn’t in-play, and the bias-down signal need not define the window’s low.

RSIs aren’t oversold at the errant tick’s low, so its retest isn’t required. Extending down further will be difficult anyway during today’s lower participation and ahead of post-close AAPL earnings. That might require sponsorship and reinforcements, whereas bouncing this afternoon only requires that sellers step back.