Mid-day Update… Time to back-and-fill.

A brief window for fresh lows.

This morning’s 2679.00 low was accompanied by oversold 1-minute and 3-minute RSIs that require an eventual retest. That hasn’t prevented bouncing into and out of the noon hour, to within 1 tick of this afternoon’s 2688.50 bias-up signal. Too late. This afternoon is a no-bias environment, and its upper-end should be defined by 2688.50.

Meanwhile, rejecting both of this morning’s bias-up parameters had put into play offsetting tests of the morning’s both bias-down parameters. Its 2681.50 bias-down signal was tested, but a test of its 2675.50 bias-down target has become “unfinished business below.”

So, about that seasonal holiday bullishness… Recall that there’s a window for injecting a pullback before a decline starts losing sponsorship. Even if we knew with 100% certainty that sellers are done, the attractions below can be fulfilled by sideways ranging. The range’s upper-end is essentially resisted by 2688.00-2692.50, so any bullish scenario requires its recovery.