Mid-day Update… Too soon?

Next higher objective pushes back.

Testing this morning’s 2710.25 bias-up target caused a half-hour consolidation. A narrow consolidation. A temporary consolidation. The rally had already resumed before the bias environment even came within view of lapsing.

The next higher objective of 2721.50 was still outstanding when the noon hour was entered. Testing it halfway caused another consolidation. Also a narrow consolidation. And also temporary, as the noon hour exit pushed higher.

That push proved temporary, too. Touching 2725.00 was also still overlapping the afternoon’s 2722.75 bias-up signal in time to invoke the grace period. Lower lows at 2719.00  rejected the bias-up altogether.

This afternoon is a late no-bias environment. If tested, its 2709.00 bias-down signal should define the window’s lower-end. But not after the window lapses, which would then be free to trend down further. Nothing requires trending down, and the bias environment lapsing is also free to recover 2722.75 bias-up signal to resume the rally through the close.