Mid-day Update… This way, and that way.

Morning rally not yet backing-off.

Absorbing the pre-open dip and its shallower post-open dip had marginalized sellers for the morning. Buyers exploited the conditions by triggering the 2124.25 bias-up signal. Its 2131.00 bias-up target was met, as was the 2135.50 next higher objective. The morning’s bias environment began lapsing at 2138.00.

Simultaneously overbought 1-minute and 3-minute RSIs at the morning’s high required a retest. That was just fulfilled, as the noon hour’s retracement to 2130.25 recovered the 2132.25 bias-down signal in time to trigger late no-bias. Room up to the 2139.75 bias-up signal was just fulfilled, too, taking RSIs overbought again.

Regardless of how strong the trending in one direction, we’re not considering it to be durable. Price action has been suggesting that this expiration can counter any trending. That would allow fulfilling the 2095.00 objective which yesterday afternoon’s market has already put on its to-do list.