Mid-day Update… Trying to bottom. Good luck.

Noon hour ranging still stuck.

This morning’s plunge to 2837.50 bounced to 2850.00 during the noon hour, essentially ranging around 2844.00. The noon hour exit’s attempt to break lower attacked 2834.00 before snapping back up to attack 2850.00. Sort of warning sellers not to try that. The market often talks tougher than it is.

Nevertheless, the snap back up outlasted the 2838.75 bias-down signal to trigger no-bias. Probing under it now would be “no-bias trending” and require being retraced. Which the earlier rejection warned against.

But the pattern of a singular probe to fresh lows does not qualify as a bottom. The low should be retested, if not also probed down to 2830.00 or 2825.00. Delaying the probe until the bias environment lapses would allow the decline to avoid being retraced back up to 2838.75 before extending. Probing it now would be more easily recovered.