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Bias-up target met. – If, Then… Market Timing

Bias-up target met.

By Rod David | November 13, 2013 - 2:22 pm

And fresh intraday highs are attacking prior overnight highs.

[pay]Extending higher to touch the 1772.25 bias-up target was pushed back momentarily. Its recovery to 1773.75 was pushed back under 1772.25, too. The bias environment is now within view of lapsing 10-15 minutes away.

The premise for probing fresh highs has been fulfilled to a minimal degree by printing fresh intraday highs. Last Thursday’s 1774.50 pre-open high has been attacked to within 3 ticks, but remains likely to be probed up to 1777.57 or 1779.50.

Meanwhile, the bias environment produced a fresh session high. Exiting the bias environment above its prior low helps to keep alive the rally’s momentum.

Back under 1769.50 would start to suggest the rally isn’t extending higher today. But momentum doesn’t reverse down without also breaking under 1768.00, probably no later than entering the final hour.

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Posted in Bias-parameters, S&P