Mid-day Update… Suddenly rudderless.

Afternoon bias avoids triggering.

This morning’s 2450.50 objective was only overlapped while being probed down to 2447.25 as RSIs improved. A reaction up was likely, and its likely 2470.00 target was exceeded substantially up to 2489.00. All of which was retraced to the room for noise around 61.8% down to 2454.50.

Now this afternoon’s 2462.25 bias-down signal has triggered noN-bias, for overlapping it at both 1:20 and 1:30. It’s not required to define the window’s lower-end, and its target below doesn’t require being tested. Which isn’t unusual when it’s difficult to generate sponsorship ahead of tomorrow morning’s Employment Situation report.

Meanwhile, holding this morning’s test of Tuesday night’s 2452.00 low can be predictive, either way. Recovering to close back above Friday-Monday’s 2472.00 and 2482.00 relevant lows would signal that the second consecutive intraday recovery was accumulative. But only holding the low’s test without yet recovering would remain vulnerable to extending the decline.