Bias-parameters
Morning bias
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| FRI morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 775 | 773’25 |
| …would target | 778.75 | 777’00 |
| Bias-down: under | 767 | 765’25 |
| …would target | 757.75 | 756’00 |
| Signal status: waiting for trigger | FAQ | |
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Afternoon bias
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| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 789.75 | 788’00 |
| …would target | 794.75 | 793’25 |
| Bias-down: under | 784.25 | 782’75 |
| …would target | 779.25 | 777’50 |
| Signal status: waiting for trigger | FAQ | |
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Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 791.75 | 790’00 |
| …would target | 796.50 | 795’00 |
| Bias-down: under | 785.50 | 784’00 |
| …would target | 780.75 | 779’00 |
| Signal status: waiting for trigger | FAQ | |
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The bias-is down, despite the bounce.
[pay]The 787’00 bias-down signal managed to break at 1:20, and it wasn’t recovered through 1:30. However, it was touched just prior to 1:20 and it was being touched again at 1:30. The lack of a clear break can be attributed to hesitation ahead of the 2:00 FOMC Minutes. It’s not quite paralysis, but it has certainly slowed the pace.
Nevertheless, the 794’25 level’s test held and produced breaks back under 791’50 and 788’50. And follow-through is attacking 782’00. So long as bounces hold any brief test of 784’50, the bias-down target at 780’00 remains in-play. It could offer some obligatory support or bounce, but its retest alone would reflect sustainable selling pressure.
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Afternoon bias
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| WED afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 796.50 | 794’50 |
| …would target | 801.75 | 800’00 |
| Bias-down: under | 788.75 | 787’00 |
| …would target | 782 | 780’00 |
| Signal status: waiting for trigger | FAQ | |
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