Mid-day Update… Still trending.

Reaction from higher highs still a higher low.

Retracing the open’s surge from its 2779.00 high back down to 2772.75 held the 2772.50 bias-up target, renewing the bias-up signal. The 2777.25 renewed bias-up target was retested, on the way to fresh highs at 2785.50.

The noon hour’s retracement attacked 2779.00. Which is still a higher low — albeit slightly higher — in the ongoing series of higher highs and higher lows. And it’s only slightly above the open’s surge.

A fresh low would be credible for reversing momentum down, possibly reversing today’s trend back down to Friday’s “lower prior highs” at 2761.00-2762.00. Otherwise, back above 2784.00 would next target 2788.00, and possibly a reaction down, but probably only temporary and shallow.