Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
Bias-up renewed. – If, Then… Market Timing

Bias-up renewed.

By Rod David | November 1, 2010 - 10:16 am

Strong optimism into and out of the news keeps fresh highs coming.

[pay]Optimism ahead of the 10:00 econ reports retested the 1189.25 bias-up target. A shallow dip barely discounted any pessimism, and the reaction surged to 1192.75. The overnight high’s attraction has been neutralized.

Maintaining the recovery above 1189.25 through 10:15 would renew the bias-up signal. The next higher targets lie around 1199.00-1202.00.

Any sell signal would require falling back under 1189.25 through 10:30, for at least an indication of late selling pressure. Even then, overbought RSIs at the surge’s high suggest that any dip would recover first.

[/pay]

Posted in Bias-parameters, S&P