Mid-day Update… Tough hurdle.

Noon hour’s bounce stops at resistance.

This morning’s 2202.50 bias-up target overnight is now “unfinished business above.” Meeting it overnight doesn’t qualify as fulfilling it, not before even triggering the 2197.00 bias-up signal at 10:15. And bias-up wasn’t rejected at 11:30, despite the morning bias environment returning to yesterday’s 2192.00 last relative low.

Add it to the 2203.00 overnight high’s “new Globex trend extreme” which requires intraday retest. Add them to the 2220.00 objective put into play by yesterday’s close above 2192.00. And don’t forget today’s 2200.00 opening print. It gapped up above all prior highs, all but requiring a retest after dipping back under prior highs.

So, the reaction down seems to have bottomed upon testing yesterday afternoon’s lows at 2192.00. Seems to have, except a bounce up to this afternoon’s 2196.75 bias-up signal didn’t trigger. Firming further this afternoon is still possible, and would likely reach overnight highs. Otherwise, fresh lows could test 2191.00, and its break would target 2182.00.