Mid-day Update… Still collecting its thoughts.

Late-Friday and Sunday surges yet to repeat.

The 2714.50 open was already backing off from attacking the 2721.50 overnight high. Post-open action channeled down to 2703.75, holding a test of this morning’s 2704.50 bias-down signal. No unfinished business below left outstanding.

The relevant 2708.00-2709.00 area that had held Friday’s late surge was probed as support repeatedly this morning. But every leg only overlapped the area, never breaking lower. Sellers haven’t gained traction, but buyers fail to exploit it. The noon hour’s bounce up to  2712.00 held. Its reaction is retesting the 2708.00-2709.00 area’s lower-end.

This a no-bias environment. Neither of this afternoon’s 2702.75-2713.75 bias signals was touched. If touched, either bias signal’s test should define that end of the range. Until the bias environment begins lapsing. Then, nothing would prevent a trending attempt from extending in that direction.