Mid-day Update… Still ranging.

Open’s dip retraces. Somewhat.

It’s not at all surprising that today’s lower-volume session remains range bound. It’s impressive that this morning triggered bias-down, and that post-open action trended aggressively. But the 2493.25 bias-down target remains outstanding. And the aggressive trending was due more to thin volume than to wide participation.

That latter point is why so much of the post-open drop was retraced into the morning’s bias environment exit. But the noon hour mostly ranged narrowly. A blip-down tried to trigger a sell signal under 2501.00, but only by 1-2 ticks before recovering to its 2503.00 origin.

This afternoon is now triggering no-bias, not even threatening either bias signal. There is no active sponsorship for trending either way, but beware of any knee-jerk reaction to news headlnies.