Bias window lapsing.
[pay]The drop to 1276’00 probed overnight lows, where S&Ps have been ranging narrowly and are likely to continue. Meanwhile bounces need to hold any momentary test of 1279’25-1280’00 to maintain the decline’s momentum. A recovery would put into play 1284’50, whose own recovery would avoid closing under the 1283’00 area to signal the next ice age.
[/pay]
