Another no-bias. What breakout?

[pay]The noon hour’s bounce touched the afternoon’s 911’00 bias-up signal, then reversed down for long enough to signal no-bias. This essentially puts into play a test of the 903’00 bias-down signal. Price could still range sideways until the no-bias environment begins lapsing at 2:30.

If that is delayed long enough, it could attract price down after the no-bias environment lapses, triggering a downleg that fulfills other unfinished business below. There is no unfinished business above, and it’s a day late for a higher close to confirm Monday’s breakout.

One new potentially bullish scenario is that today’s pattern may be forming an Ascending Triangle. Its first break would be retraced entirely, so a break higher could still develop, and a break down wouldn’t extend. But none of today’s price action constitutes accumulation.

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