Mid-day Update… This is chronic.

Morning drop extending through the noon hour.

The post-open bounce up to 2915.50 had soon reversed its test of this morning’s 2911.00 bias-up signal. Not recovering it triggered no-bias. Its offsetting test of the morning’s 2900.25 bias-down signal was soon fulfilled.

Meanwhile, the morning’s no-bias environment had yet to lapse.

The bias-down signal should define the no-bias environment’s lower-end. That didn’t prevent the drop from probing lower anyway. It extended down to the morning’s 2893.75 bias-down target, whose break at the bias environment’s exit could have invalidated the retracement requirement. But 2893.75 was only tested.

Probing under this morning’s 2900.25 bias-down signal during the no-bias environment requires being retraced eventually. There’s no particular timing, and its “unfinished business” can remain outstanding indefinitely. Which could be awhile, because there’s nothing bullish about today’s pattern

Extending down through the noon hour has now triggered the afternoon’s 2877.75 bias-down signal’s break is triggering “late bias-down.” Its 2872.25 bias-down signal has been attacked already to within 4 ticks, so it won’t become “unfinished business” if left outstanding. Back above 2880.50 would start to signal momentum reversing up, but be careful, because the alternative could be a meltdown into the weekend.