Mid-day Update… The trend isn’t unfriendly.

opening rally extends. And extends.

Still overlapping the 2065.00-2066.00 renewed bias-up target at 10:15 prevented triggering a doubly-renewed bias-up signal. But it’s still a bias-up environment. And it was extended up to 2078.00.

The morning’s bias tends to persist through the noon hour on Fridays. But a relatively shallow pullback can still develop. Its objective would be 2067.50, which could become deeper, but probably not reverse the trend back down down.

Even if a pullback is only shallow, resuming the rally today is not assured. Marginalizing sellers doesn’t necessarily create a vacuum that sucks in buyers. And RSIs aren’t overbought at the current high, so it doesn’t require a retest.

But if the rally were to resume today, then its objective would be to test 2082.00. Otherwise, just a normal deeper pullback would likely hold the 2058.00-2059.00 area.