Mid-day Update… Weekend slowdown?

Momentum disappearing at session highs.

The post-open dip to this morning’s 2793.50 bias-down signal held its test through 10:15. That put into play an offsetting test of the morning’s 2804.00 bias-up signal. The target was met within the hour, nice.

RSIs diverging into the morning bias environment exit had suggested momentum was rolling over. Taht would have been nice, too. Then came the news.

The Russia indictments headline triggered a knee-jerk reaction that attacked 2800.00. The artificial selling pressure crowded out the organic deterioration. The effect isn’t compounded, but replaced.

Anyway, now we all know that the administration isn’t affected by the indictments. So… relief rally! Right? Actually, the post-open 2806.25 high has only been touched. And only momentarily as its reaction is testing 2802.00 — the afternoon’s 2805.50 bias-up signal could have triggered but did not.

The shallow reactions suggest that Friday afternoon’s usual lethargic influence has begun. This doesn’t prevent trending any more, or retracing, but the predictability and reliability is inhibited.