Bias-up?

[pay]The ESm 1384’50 bias-up signal was exceeded in the final minutes before 1:20, but only momentarily. Ten minutes later it is still being retested as support. A break above 1386’00 through 1:30 would have confirmed the bias-up did signal, and some traders might consider using it for long-entry, but I am otherwise suspicious.

The next hour could simply range narrowly between 1382’00-1387’00. If there is anything potentially bullish about the pattern, and not necessarily indicative of being a corrective bounce, then it is 1) the noon hour’s low having bounced from a 61.8% probe back into the swing at yesterday’s cash session lows, and 2) bouncing out of the noon hour despite Crude Oil at session highs (decoupling, anyone?).[/pay]