Bias-up.

[pay]The afternoon’s bias-up signal triggered above ESm 1363’00. S&Ps extended to new afternoon highs through 1:30 and above 1365’00 to help confirm. This rally should accomplish what the morning’s rally failed to do, by reaching its 1370’50 target. But any touch of 1364’00 needs to reverse up quickly to another new afternoon high so that sellers don’t gain traction, which would be signaled under 1363’00. The noon hour’s new low fulfilled near-term unfinished business at lower levels, which means the rally has no excuse not to extend higher, and also that failing to extend higher would represent new selling interest just beginning.[/pay]