Mid-day Update… Stubborn.

Optimists learning at a glacial pace.

At least this morning’s gap up reversed down immediately. So, optimists are getting a little smarter. Not much, though. Friday’s gap was a little slower to reverse down, but not much. And prior gaps up had extended higher more and more briefly before reversing down.

Negative territory was probed earlier this morning than Friday. But not much. The bias environment had not yet ended today, but Friday’s drop dragged it out before failing.

There’s some sort of a pattern there.

The learning curve doesn’t advance simply by shortening distance between the usual inflection points. Rather, the curve stops repeating, and disappears altogether — replaced by a period of trending more consistently and at a steeper slope.

Unfinished business below at this morning’s 1899.75 bias-down target is now this afternoon’s bias-down target. Probing fresh post-open lows during the noon hour would start to suggest the pattern is shifting to post-optimism. Somehow rallying would suggest something much more substantial underway to the upside.