Bias-up. Sort of.

[pay]The pullback under 1290’50 has traveled round-trip, down to this afternoon’s 1283’50 bias-down signal, and then back up. MACD & RSI just diverged negatively into a blip-up above 1290’50 whose rejection is now attacking this afternoon’s 1288’50 bias-up signal as support.

The setup isn’t attractive for being long, despite already triggering this afternoon’s  bias-up signal, and despite this morning’s bias-up signal already likely to persist past the noon hour. Liquidity begins evaporating Friday afternoons unlike any other afternoon, which can cut either way.

Extending above 1291’50-1292’50 through 2:30 might trigger a last-hour short-squeeze. Back under 1285’50 might instead erase all of the gains from yesterday’s close. Either way, my preference during this window is to be flat between both levels and not positioned in anticipation of either level breaking.

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