Mid-day Update… Try, try again?

Bounce now opens the door to a reversal.

This morning’s decline to 2895.00 was recovered back above the morning’s 2899.00 bias-down signal. Twice. Two probes under it, recovered back above it. And the bias environment was within view of lapsing. Sellers were done, as I described during the pre-open Market Tour.

Reversing up almost relentlessly since then has stopped 1 tick short of its potential up to 2910.00. It’s also this afternoon’s bias-up signal, which did not trigger.

An inflection point would trigger above 2908.75, and could produce no-bias trending . Otherwise, back under 2905.75 would start to signal the bounce had ended. The vulnerability to resuming the decline is less likely than simply drifting lower into the close.