Bias-parameters
Gap down testing bias-down, and buyers’ resolve.
[pay]The retest of Sunday night’s opening high did neutralize its magnetic attraction, and sent price down sharply overnight. The 830’50-832’50 area was capable of launching a recovery, but it has been probed by 5-1/2 points.
A 3-minute bar ending under 825’50 would make it very difficult to recover the 828’50 bias-down signal. That would also confirm the gap down under Friday afternoon’s last relative low, whose opening break here would signal a session-long decline. Two probes under 825’50 so far have been too quick, and bounces meanwhile need to hold 827’25 as resistance
Recovering the 828’50 bias-down signal through 10:15 would signal no-bias, and would also put into play a test of the 836’50 bias-up signal. A retest of the overnight highs wouldn’t be in-play before recovering 838’00.[/pay]
Morning bias
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| MON morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 840.25 | 836’50 |
| …would target | 846 | 842’25 |
| Bias-down: under | 836.25 | 828’50 |
| …would target | 825.25 | 821’50 |
| Signal status: BIAS-DOWN | FAQ | |
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Afternoon bias
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| FRI afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 836.25 | 832’25 |
| …would target | 841.50 | 837’75 |
| Bias-down: under | 828.25 | 824’50 |
| …would target | 822 | 818’00 |
| Signal status: BIAS-DOWN | FAQ | |
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Morning bias
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| FRI morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 842 | 838’00 |
| …would target | 847.50 | 843’75 |
| Bias-down: under | 834.75 | 831’00 |
| …would target | 828.75 | 824’75 |
| Signal status: BIAS-DOWN, TARGET MET | FAQ | |
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Afternoon bias
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| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 842 | 838’00 |
| …would target | 848 | 844’00 |
| Bias-down: under | 836 | 832’00 |
| …would target | 827 | 823’00 |
| Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL | FAQ | |
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