Posts by Rod David
Afternoon Bias
| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1999.25 | 1990.75 |
| …would target | 2004.25 | 1996.00 |
| Bias-down: under | 1989.25 | 1981.00 |
| …would target | 1984.50 | 1976.00 |
| Signal status: NO-BIAS | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be “no-bias,” and the bias signals should define the bias environment’s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
— “Late” signals don’t require testing the opposite bias signal, but it’s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
Post-open Review… Up, but not necessarily away.
Offsetting test above is in-play.
The overnight dip wasn’t recovered entirely before the open. The open’s fluctuations still touched the 1979.00 bias-down signal. It held through 10:15, triggering no-bias, and putting into play an offsetting test of the 1990.00 bias-up signal.
So, there’s high confidence in the path leading to 1990.00. The gap back to yesterday’s ~1988.00 close should be filled anyway, so its test is likely to be probed by a couple of points. A runaway rally isn’t likely, although an optimistic reaction to this afternoon’s FOMC Minutes is possible — doomed to failure, but possible.
Already a fresh post-open high has touched 1985.75. That was before 10:15, and without probing any higher, exiting the bias environment at 11:30 under the 1997.00bias-down would invalidate the upside objectives.
Details and other markets coverage are discussed in the pre-market Tour recording here:
delete
All systems are a go.
Audio issues with anymeetig and ilinc have been resolved, here are their links:
CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
And if you missed it, here’s the pre-market Tour recording:
https://roddavid10.mitel-nhwc.com/join/xmmzszv
Pre-market Tour (recording & summary)
The open isn’t indicated to gap up. Since yesterday’s buyers didn’t gain traction, that makes a durable rally unlikely. It also makes any rally attempt less likely, but possible — just likely to fail if attempted. And today’s news flow has plenty of Fed catalysts capable of triggering attempts, left and right (or up and down).
Details and other markets coverage are discussed in the pre-market Tour recording here:
https://roddavid10.mitel-nhwc.com/join/xmmzszv
CORRECTION: new anymeeting link
Sorry, I published the wrong link to this morning’s XP-friendly Anymeeting link, which should be:
http://anymeeting.com/254-108-939