More to come?

Resuming this morning”s drop would target well under the overnight low.

This morning”s 1963.25 bias-down target had been met and held, not renewing the bias-down signal. The balance of the bias environment could have hovered there. Usually, it would firm, sometimes back up to the 1970.00 bias-down signal.

This morning”s bias-down environment probed above the bias-down signal to 1976.25. After reacting down 10 points, and when the bias environment had become less influential, fresh highs were probed up to 1983.75. That was retraced before the noon, likely to trap buyers.

If it”s a trap, then it”s slow to snap. This afternoon”s 1973.75 bias-down signal didn”t trigger. Probing under it after 1:30 was too late to invalidate the no-bias that had signaled already. So, price is still hovering around 1973.75, probing 2 points either way around it.

The bias environment comes within view of lapsing at 2:15-2:20. Breaking under 1973.75 would be entirely credible for launching a new downleg — not just targeting fresh session lows, but a probe under the overnight lows as 1944.00”s attraction become threatening again. Otherwise, back above 1979.25-1980.75 could trigger a rally into Wednesday morning.