Mid-day Update… Window shopping.

The rally holds and advances, one window at a time.

(Charts and price references all basis Mar.) It took its time today, but the rally has resumed. Or, is trying to resume

Fluctuating choppily around yesterday’s high lasted through the morning and into noon, before finally starting to firm. And then suddenly surging. Now yesterday’s high has been probed by almost 9 points up to 2245.00 (basis Mar). This afternoon’s bias-up has triggered.

This morning’s bias-up signal was tested but not triggered. The grace period missed being invoked by only 1-2 ticks. So, an offsetting test of its its bias-down signal won’t be considered “unfinished business below.” This doesn’t mean it can’t be met, or won’t, sooner or later. But it’s not an outstanding attraction below.

However, there’s a new attraction above. It is this afternoon’s 2246.50 bias-up target, put into play by triggering the 2239.50 bias-up signal. It will become “unfinished business above” if left outstanding, unless the bias environment were to lapse under 2236.00.

Stay on high alert for the ongoing potential of reversing down sharply today. This risk won’t be any lesser tomorrow, but it would likelier recover if avoided today. Avoiding a sharp reversal down would also confirm yesterday’s break above 2220.00. Closing under it today would start to seal a top.