Bias-up benefit of the doubt?

The benefits seem light when the doubt is heavy.

[pay]This morning’s bias-up environment is lapsing, and its 1331.00 bias-up signal is being probed as support. Not recovering it by noon would invalidate its 1338.00 bias-up target.

Bias-up environments normally trend up. But the signal’s purpose is to identify whether buyers or sellers are in control. Occasionally, the bias environment may be dominated by selling. The bias-up signal identifies that selling as weak-handed, and likely to be absorbed by stronger hands.

Yesterday afternoon’s bias-up fulfilled this purpose – eventually. This morning’s bias-up should fulfill this purpose, too, especially if the noon hour were entered back above the 1331.00 bias-up signal. RSIs are diverging positively on a downleg currently in-play.

Since no upleg this morning fulfilled the behavior of a valid upleg – being a fairly straight shot up to fresh session highs and perhaps also to 1338.00 – that should still define the next valid upleg. Otherwise, the downleg currently in-play is next targeting 1324.50.

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