Mid-day Update…The trend is bucking the trend.

No-bias trending to new highs.

This morning’s 2023.00 bias-up signal held its test into the bias environment lapsing. Probing higher during the noon hour up to to 2031.00 tested the overnight high’s “new Globex trend extreme” and this afternoon’s 2028.50 bias-up signal. Dipping into the bbias environment’s exit avoided triggering bias up.

Dipping also held a sell signal under 2027.00. And despite not triggering, the 2028.50bias-up signal is being probed. Up to 2033.50, probing this afternoon’s bias-up signal by 1 point.

Being a no-bias environment, this is “no-bias trending” that is doomed to failure. Retesting the 2028.50 bias-up signal as support is required, if not also down to the 2027.00 level being tested when the bias signal triggered at 1:20. Meanwhile, yesterday’s buyers didn’t gain traction for their efforts, which also undermines resuming the rally so quickly.

Extending higher is possible. But a bullish WedEX bias would be difficult without first correcting today’s excess.