Mid-day Update… Trending still trapped.

Recovering the open’s dip held resistance.

This morning’s 7-point plunge down to 2381.75 had consolidated into the bias environment lapsing. Rallying through the noon hour touched 2388.00, and held.

Testing 2388.00 wasn’t rejected — its 2-point reaction down hasn’t even probed its pullback limit by 3 ticks. But this afternoon’s 2386.50 bias-up signal didn’t trigger. And it could have. Not only did bias-up not trigger, but neither did no-bias. This is a noN-bias environment.

noN-bias means the bias-up signal isn’t required to define the window’s upper-end, although it often does. Nevertheless, a fresh high above 2388.00 would be credible for resuming the noon hour’s rally. This morning’s 2391.00 bias objective did become “unfinished business above.”

Meanwhile, back under 2385.00 would be credible for resuming the morning’s drop. Not only to its 2382.50 bias-down signal, but through yesterday’s ~2381.00 lows to 2377.25.