Mid-day Update… Try, try, try, again and again and.

Another fresh high. Another rejection.

Holding a test of this morning’s 2433.25 bias-up signal had put into play an offsetting test of its 2425.75 bias-down signal. That was fulfilled as the first hour was ending.

That’s also when the Comey hearing had elapsed beyond the point where any new revelation or refutation was going to emerge. And the market rallied straight up into the noon hour’s 2436.75 high.

The noon hour’s high was another probe above prior highs. But it hadn’t yet developed when the noon hour was entered, i.e. when the bias environment was lapsing. And the noon hour’s exit was still overlapping prior highs. The afternoon bias environment’s entry rejected the fresh high altogether.

This afternoon’s no-bias environment has bounced back up to its 2432.75 bias-up signal. Probing it when the bias environment begins lapsing would be credible for extending higher. Any earlier would be no-bias trending and likely to fail. And already starting another downleg by then remains possible.