Bias-down target met, held.

[pay]Despite 3-min RSI being overbought at the session high, S&Ps fell to the 1242’25 bias-down target. It was probed by more than 1 point, but held through the 1:20 timing window to avoid re-confirming the bias-down signal.

Sellers lost a lot of traction and S&Ps are once again attacking the 1248’00 bias-down signal. I would give it a benefit of the doubt for becoming a buy signal if recovered on this leg. That would help get back to session highs and neutralize the outstanding overboght 3-min RSI.

Otherwise, this might be it for volatility until the bias environment lapses in another hour.

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