Bias-parameters
No-bias, on steroids.
[pay]The open’s gap up probed the 752’00 bias-up signal again, and held it again. It held through 10:15 to signal no-bias, putting into play a test of the 741’50 bias-down signal. Attempts to neutralize this objective came only within 2 points before surging – first probing the open’s highs and now probing the pre-open highs – up to 757’75.
If this is still a no-bias rally, then its failure is still required, and testing the 741’50 bias-down signal now would only begin to compensate for the delay. Back under 752’00 (confirmed under 751’00) would trigger the decline’s resumption. Not just the no-bias rally’s retracement, but an extension of yesterday’s drop.
Perhaps the bias-up signal’s first reaction down had already expended too much selling pressure by 10:15 for sellers to test the bias-down signal. Maybe the bias-down signal was incorrect, and 744’00 actually fulfilled the signal’s test. A falling wedge had formed to that point, but only the 1-minute MACD & RSI were diverging positively.
Regardless, the buyers that overcame the no-bias signal to produce new session highs will need to be respected if they also maintain their recovery above 752’00 when this morning’s no-bias environment lapses around 11:30. At that point, we would get serious about getting long, and especially back above 754’00.
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Afternoon bias
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| TUE morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 753.50 | 752’00 |
| …would target | 758.25 | 757’00 |
| Bias-down: under | 742.75 | 741’50 |
| …would target | 734.50 | 733’00 |
| Signal status: waiting for trigger | FAQ | |
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Afternoon bias
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| MON afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 764.25 | 762’75 |
| …would target | 771 | 769’75 |
| Bias-down: under | 758.25 | 757’00 |
| …would target | 749.50 | 748’00 |
| Signal status: waiting for trigger | FAQ | |
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Morning bias
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| MON morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 782.75 | 781’25 |
| …would target | 788.50 | 787’00 |
| Bias-down: under | 778 | 776’50 |
| …would target | 767.50 | 766’00 |
| Signal status: waiting for trigger | FAQ | |
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Afternoon bias
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| FRI afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 766 | 764’50 |
| …would target | 771 | 769’50 |
| Bias-down: under | 762.50 | 761’00 |
| …would target | 757.50 | 756’00 |
| Signal status: waiting for trigger | FAQ | |
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