Mid-day Update… Stress test.

Bias-up target’s probe rejected, for now.

Gapping up to 2442.25 quickly extended through the 2443.50 bias-up target and held on to renew the bias-up signal. The setup is very reliable for extending higher through the morning, and also for printing its session high in the afternoon.

None of which mattered today.

Despite holding up through the first hour, price suddenly collapsed down to the 2438.00 bias-up signal. It was soon probed by 4 points, but recovered as the bias environment was lapsing. As it should — it was still a bias-up environment, so the bias signal should define window’s lower-end if tested.

The recovery has extended through the noon hour to 2441.50. The bias-up signal 1 point higher wasn’t touched. The recovery can extend back to and through the morning’s highs. Can, and should, so long as 2437.00 holds as support.