Bias-up

[pay]The bullish scenario is playing out, with a break above the afternoon’s ESm 1353’00 bias-up signal. Now the morning’s high is being retested as resistance at 1356’00. That’s still 3 points under the pre-open high, but the highest appropriate stop now is 1354’50 – preferably no lower than the 1353’00 bias-up signal itself.

Back above yesterday afternoon’s low was the first step in a bullish scenario, and that was fulfilled, but buyers still have more to prove. And back under 1351’00 through a relevant timing window like 2:30pm ET would signal that sellers were gaining traction again.[/pay]