Mid-day Update… The upper-end holds.

Noon hour fully retraces morning rally.

Probing fresh highs up to 2663.00 before the noon hour was suddenly ambushed by a 16-point plunge. Its reaction into the noon hour was gradually retraced and then also ambushed by another 16-point plunge to 2635.00.

That was under the open’s pullback to 2638.50. It was only temporary, eventually retraced to touch this afternoon’s 2658.25 bias-up signal. Its reaction just probed 2 points under the afternoon’s 2648.00 bias-down signal.

Zuckerberg is still scheduled this afternoon. The White House press secretary’s daily briefing will likely be full of salacious and intriguing questions about yesterday’s raid on Trump’s attorney. I’m not expecting the market to accomplish anything new during those distracting televised events.

So, not already trending higher would be vulnerable to retracing back to session lows. Of course, breaking higher before the bias environment lapses would require being retraced, which could become a rubber band stretch that snaps back down.