Buying in a bias-down environment.

[pay]The recovery above prior highs never succeeded through any relevant timing window. Buyers never regained traction, but sellers had already lost it, so the 1241’25 bias-down target served as the range’s lower-end. The 1248’00 bias-down signal serves as the range’s upper-end, and it was just probed by 2 points.

Being so near the 1252’00 gap still outstanding back to yesterday’s close, I hesitate to sell this strength before reversing back under 1245’00. If the gap is filled, then back under 1248’00 would signal momentum reversing down.

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