Mid-day Update… Stuck below the rut.

But another upside attraction created.

This morning’s 2932.25 bias-down signal was tested down to 2931.00 and held, putting into play an offsetting test of the 2942.00 bias-up signal. But the recovery from 2931.00 peaked at  2939.50, so 2942.00 became “unfinished business.”

Add that to yesterday afternoon’s 2942.75 bias-up target that was left outstanding.

Now this afternoon’s 2930.25 bias-down signal has also held its test down to 2928.50. This puts into play an offsetting test of its 2942.75 bias-up signal. Currently, 2934.00 is being attacked.

Resuming yesterday morning’s surge has been delayed by yesterday afternoon’s ranging that persisted overnight. Backing-and-filling now is a little bit of overkill. It can still be productive, if resolved up today. But not yet recovering this afternoon would suggest a deeper pullback to find buyers.