Bias-up signaled, and that might be the bad news.

[pay]The bias-up signal triggered at 1:20 above ESm 1415’50. A subsequent dip had recovered back to 1415’50 at the bottom of the hour, instead of extending above 1418’00 the noon hour highs. That could be a problem for a bounce, although that bounce might only limit the bias-up signal’s production to something less than its 1421’00 target.

For now there can be little further delay in the bias-up signal at least producing a new afternoon high above 1418’00. Otherwise the most bullish scenario might be only to range sideways while waiting for the decline to resume.[/pay]