Mid-day Update… What’s the hold-up?

Holding above yesterday’s late high hasn’t extended higher.

The open’s 2588.00-2597.00 range had resolved down to avoid triggering bias-up. Despite putting into play an offsetting test of the 2566.50 bias-down signal, despite probing the pre-10:15 lows, and despite extending down to 2573.50… the balance of the bias environment rallied to fresh highs at 2606.00.

Exiting the bias environment above its 2601.50 bias-up target would have invalidated the no-bias signal and its lower objective. Despite rallying 33 points from low to high, and despite probing fresh highs up to 2606.00, the bias environment lapsed back under 2601.50.

So, 2566.50 is “unfinished business below.” Overbought RSIs at the 2606.00 high require an eventual retest. Perhaps that attraction above is what’s responsible for limiting the noon hour’s pullback to 2584.00. Back under 2590.00 and 2585.00 would start to overwhelm that higher attraction in favor of trending back down.