Mid-day Update… Waiting for round-two.

Morning’s volatility meets afternoon’s no-bias signal.

Holding a test of this morning’s 2791.50 bias-down signal through 10:15 had put into play an offsetting test of the 2802.00 bias-up signal. Volatility and false starts wasn’t surprising — already suggested by the pre-open patterns we discussed during the Market Tour.

Opening at 2701.50 and rallied to 2800.00, including an extra tick after 10:15 which usually confirms the bigger picture.

The bigger picture got bigger with a quick dip to 2789.50. It was recovered and reversed as quickly up to 2802.00 during the bias environment. Its retest held and the noon hour was entered back under the morning’s high.

This afternoon’s 2794.00 bias-down signal held as support through 1:20 to trigger no-bias. An offsetting test of the bias-up signal is not required. Probing under the bias-down signal is unlikely, but probing under it would target 2780.00 and require being retraced. Probing the bias window either way any later could extend in that direction.