Bias-down, narrowly.

“The bigger they are…” which this one isn’t.

[pay]Momentarily touching the 1358.75 bias-up signal was enough for one thing. The eventual no-bias signal has now put into play a test of the 1351.75 bias-down signal.

Momentarily piercing the 1358.50 prior highs was enough to trigger a dip to 1355.25. Its reaction just touched 1357.75.

None of it – not the momentary strength, nor the modest dip – are enough to form a durable top. Back under 1356.25 would be credible for resuming the drop targeting 1351.75.

Meanwhile, having triggered no-bias so gingerly, there is potential to fresh highs, which could invalidate the bias-down if timed appropriately.

[/pay]