Mid-day Update… Ex-WedEX.

Is it trending, or just a very wide range?

This morning’s bias environment trended up throughout. It’s difficult enough to generate trending windows on expiration or on Fridays in general. Much more difficult is to reverse them.

So, returning back down to 1950.50 might seem bearish, after its test this morning had rallied to 1967.50. Maybe it’s just noise within a wide price range, and also within the pessimism from yesterday’s action bleeding into an overnight slide that resumed before the open.

Remember that expiration sessions often range sideways. Also, bullish WedEX afternoons often range flat-to-higher.

There’s also a lot of room just for noise. But I’m equally interested in longs. And rallying into today’s close could be very bullish for Monday. That’s not to dismiss the downside vulnerability. There is significant downside vulnerability, making it worth getting whipsawed out of shorts to be exposed in case the bottom drops out.