Mid-day Update… Sticking the lows.

Choppy morning stuck around the open, but that window is done.

If only 3 of the first hour’s 15-minute checkpoints had overlapped the same relevant level, then we would still have suspected a Dry Cleaners morning. There were 4-5 overlaps today at 2732.00, to which every leg and trending attempt has returned.

That was the morning bias environment. This is the afternoon.

Trending down since the bias environment began lapsing at 11:30 has returned to within 1 tick of the morning’s next lower objective at 2727.25. The leg’s timing held a test of this afternoon’s 2729.00 bias-down target as support. This is a bias-down environment, but its target was met instead of renewing the bias-down signal.

Back under 2727.25 would nevertheless put into play the next lower objective at 2720.50. Meanwhile, the bias-down environment has room to fluctuate as noise back up to its 2735.50 bias-down signal.