Bias-down, down, down.

Morning”s bias-down signal continually undermined buy signals.

Buy signals during this morning”s bias-down environment never exceeded their 3-minute highs before reversing down deeper than 4-6 ticks. Although the bias environment has lapsed, that pattern may remain intact. A different behavior to buy signals might alert us to the trend changing, too.

In fact, the most recent sell signal at 2036.50 reacted back up before probing deeper than its first 3 minutes. So, is that a new pattern?

One time does not a pattern make, nor does it invalidate the existing pattern.

But, failing to extend a second sell signal — or exceeding a buy signal”s 3-minute high — would start to suggest that sellers are done. Extendnig higher would start to suggest that this morning”s selling was exacerbated by afternoon sellers accelerating their sales into this morning, ahead of the weekend”s illiquidity.

Then, the only other wrinkle would be that this is the noon hour. Bounces can be counter-trend. Not triggering bias-up could resume the decline, in a very big way.