Mid-day Update… Turnabout is fair trade.

Something big may be happening here… PLUS INSTRUCTIONAL VIDEO.

The likely objective to resuming last night’s rally was 2813.50. It was tested and retested at the morning bias environment’s high, very soon after triggering its 2808.75 buy signal. The window lapsed back under the open’s high.

The elements of this setup all but require a fresh post-open low. That’s the structural reward, just for isolating the bias environment’s probe above the open’s high. The calculable reward derives from the interim swing, and measures out to 2802.00. Neither objective is required, especially if another timing window were to probe fresh highs.

BONUS: Watch this 4-minute video description of the Risk:Reward assumptions that suggested selling into the 2806.75 bounce limit test on the way down.

But the reversal did extend down, until testing its likely 2802.00 target. Oversold RSIs there don’t require a retest because they printed during the noon hour. The low bounced 1 tick short of the 2801.25 bias-down target, but not high enough to avoid triggering the 2806.25 bias-down signal. Having met its target to within 3 ticks, it won’t become unfinished business if left unmet. But it’s meanwhile an attraction.

More so, the morning high’s rejection may yet evolve into a reversal of the overnight rally. Back under 2801.00 would start to signal another downleg underway probably targeting 2791.00. Otherwise, recovering 2809.00-2810.00 through a relevant window would suggest another upleg underway