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BIAS-UP TARGET MET – If, Then… Market Timing

BIAS-UP TARGET MET

By Rod David | November 15, 2013 - 3:16 pm

Fresh session high coming late.

[pay]This morning’s 1794.00 bias-up target became “unfinished business above” when left outstanding this morning. It was just touched while going into the final hour.

That’s a new high. On a Friday. During expiration. Reversing down with any predictability would need to be signaled through the 3:10-3:20 timing window. Trending down after that window would be possible, but not predictable.

Extending higher is also possible. Despite fulfilling this morning’s buying pressure, it is almost as difficult to restrain late expiration trending as it is difficult to reverse it. But back under 1791.50 would start to suggest that today’s buyers are finished.

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Posted in Bias-parameters, S&P