Mid-day Update… Stuck.

Choppy morning gets nowhere.

A noN-bias environment often sucks volatility out of the market until the timing window lapses. This morning’s noN-bias environment certainly didn’t trend, but it was volatile. And the entire morning elapsed without breaking in either direction.

Not rejecting the gap down kept the door open to extending lower through the morning. This being a Friday, if the morning had held tests of an actual prior low, then an afternoon rally would become very likely. But this morning only held tests of a retracement calculation, so there’s only potential for an afternoon rally.

Room to test this afternoon’s 2580.25 by a point should not be confused with trending. And the door remains open to extending lower into the close, especially if 2580.25 were to tested and already reacting down when the bias environment begins lapsing at 2:30. Otherwise, trending today isn’t required, but recovering 2581.50 could extend higher into the close, instead.